Hello please help me with my homework as soon as possible please thank you

Question

1.) The value of a car bought new for $28900 decreases 15% each year. Identify the function for the value of the car. Does the function represent growth or decay?

A.) V(t) = 28900(0.15)t; decay

B.) V(t) = 28900(0.85)t; decay

C.) V(t) = 28900(0.85)t; growth

D.) V(t) = 28900(0.15)t; growth

 

 

2.) The value of a treadmill bought new for $1000 decreases 5% each year. Use a graph to predict the value of the treadmill in 5 years.

A.) ≈ $902.50

B.) ≈ $773.78

C.) ≈ $814.50

D.) ≈ $857.38

Answer 1

1) So to start, you want to use the context clues from the question: "Decreases" means the value is not growing, but decaying. Therefore you can eliminate C and D. The value of the vehicle decreases by 15% or (0.15) each year. This is the tricky part. The question is not asking how much the vehicle is decreasing by, but the value of the vehicle after one year. Therefore, after one year, the value of the vehicle is only worth 85% (100% - 15%) or 0.85 of its original value of $28,900. Therefore, the correct answer is B. $28,900 * 0.85 = $24,565. To check this, you can do the math. If the car decreases in value by 15% (28,900 * 0.15 = 4,335), then you would subtract this from the original amount $28,900 - $4,335 = $24,565 is the new value of the vehicle.

2) If the value of a vehicle decreases 5% after each year, the the value that is LEFT is 95% (100% - 5%). Therefore, you can perform $1000 * 0.05 = 950. But it asks after 5 years, so complete this four more times starting with your new value. $950 * 0.05 = $902.5... $902.5 * 0.5 = 857.37 ... until you get $773.78.