Question

A car is sold for $20,000. After one year, the value of the car is $11,000. Write an exponential function y to determine the value of the car after x years if the rate of decrease is the same each year.

Answer 1

y=20000(0.55)x

Explanation:

Given data

The initial price of the car =$20000

The final price of the car after 1 year=$11000

The change in price is expressed as

=11000/20000

=11/20

=0.55

Hence the change for x years is

=0.55x

Let the total amount of the new price be y

Therefore the expression for the new price is

y=20000(0.55)x