The equation f(t)=24,500.(0.88) represents the value of a car, in dollars, t years after it was purchased?

Answer 1

The function rule needs to have the "t" as the exponent, assuming that, as each year goes by, the value of the car is only 88% of its previous year's value, so the function rule should be f(t) = 24,500( 0.88)^t.