Ms. Melrose's BMW cost somebody $21,000 in 1988, it has lost 10% of its value every year since 1988. Find a function that gives the value of Ms. Melrose's BMW f(x) in terms of x years since 1988. Use your formula and a calculator to figure out how much Ms. Melrose's BMW is worth here in 2016.
Ms. Melrose's BMW cost somebody $21,000 in 1988, it has lost 10% of its value every year since 1988. Find a function that gives the value of Ms. Melrose's BMW f(x) in terms of x years since 1988. Use your formula and a calculator to figure out how much Ms. Melrose's BMW is worth here in 2016.
x=2016 - 1988 =28 years elapsed since the purchase of the car.
f(x)=21,000 x .90^x
f(x)=21,000 x .90^28
f(x)=21,000 x 0.052335
f(x)=$1,099 The value of Ms. Melrose's BMW in 2016.
