Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
Bartleby Related Questions Icon

Related questions

Question

78. b

please

### Depreciation of a 2003 Toyota Corolla

The value of a 2003 Toyota Corolla is represented by the function:

\[ v(t) = 14000(0.93)^t \]

where \( t \) is the number of years since its purchase and \( v(t) \) is its value in dollars.

(Source: Kelley Blue Book)

#### Questions:

a. What was its initial purchase price?

b. What percentage of its value does the Toyota Corolla lose each year?

c. How long will it take for the value of the Toyota Corolla to reach $12,000?
expand button
Transcribed Image Text:### Depreciation of a 2003 Toyota Corolla The value of a 2003 Toyota Corolla is represented by the function: \[ v(t) = 14000(0.93)^t \] where \( t \) is the number of years since its purchase and \( v(t) \) is its value in dollars. (Source: Kelley Blue Book) #### Questions: a. What was its initial purchase price? b. What percentage of its value does the Toyota Corolla lose each year? c. How long will it take for the value of the Toyota Corolla to reach $12,000?
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:PEARSON
Text book image
Contemporary Abstract Algebra
Algebra
ISBN:9781305657960
Author:Joseph Gallian
Publisher:Cengage Learning
Text book image
Linear Algebra: A Modern Introduction
Algebra
ISBN:9781285463247
Author:David Poole
Publisher:Cengage Learning
Text book image
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:9780135163078
Author:Michael Sullivan
Publisher:PEARSON
Text book image
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:9780980232776
Author:Gilbert Strang
Publisher:Wellesley-Cambridge Press
Text book image
College Algebra (Collegiate Math)
Algebra
ISBN:9780077836344
Author:Julie Miller, Donna Gerken
Publisher:McGraw-Hill Education