The value of a brand new car is $10,000 and the value depreciates 18% every year. Write a function to represent the value of the car after t years, where the quarterly rate of change can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of change per quarter, to the nearest hundredth of a percent.
Please write the answer in equation form.
The value of a brand new car is $10,000 and the value depreciates 18% every year. Write a function to represent the value of the car after t years, where the quarterly rate of change can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage rate of change per quarter, to the nearest hundredth of a percent.
Please write the answer in equation form.
Related questions
This is exponential regressions (with logs ) in algebra 2
The accompanying table shows the value of a car over time that was purchased for 12800 dollars, where x is years and y is the value of the car in dollars. Write an exponential regression equation for this set of data, rounding all coefficients to the nearest hundredth. Using this equation, determine how long it will be, to the nearest tenth of a year, until the car's value is 2000 dollars.
| Years (x) | Value in Dollars (y) |
| 0 | 12800 |
| 1 | 11236 |
| 2 | 8912 |
| 3 | 8117 |
| 4 | 6456 |
| 5 | 5706 |
| 6 | 4782 |
Regression Equation: ___________
Final Answer: ___________
