The value of a new

Question

The value of a newly purchased boat is a linear function of time. The boat was purchased for $20,600 . The value of the boat then decreases to 75% of its purchase price after it years. Answer the following

(A) Determine the value of the boat after 11 years

(B) Express the value (In dollars) of the boat as a function of time (in years) since purchase.

(C) Determine the value of the boat after 12 years. Enter the exact dollar amount, or round to the nearest dollar

Answer 1

V(t) = 20600(0.75)^t

(A) V(11) = 20600(0.75)¹¹

(B) V(t) = 20600(0.75)^t

(C) V(12) = 20600(0.75)¹²