Question: Dear Tutor: I need to solve the following exponential function: The dollar value vt of a certain car model that is t years old. The

Dear Tutor:

I need to solve the following exponential function: The dollar value vt of a certain car model that is t years old. The function is V(t)= 24,500 (0.78) Exponent (t). I need to find the value of the car after 7 years.

I substituted the value of t for 7. Now my function looks like V(7) = 24,500 (0.78) Exponent (7). However, the answer I'm getting is 4,300 instead of 4,303.5. Can you please explain what I'm doing wrong?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Question #37 / 40 The dollar value v(t) of a certain car model that is t years old is given by the following exponential function v() 32,000(0.80) Find the initial value of the car and the value...

The dollar value v(t) of a certain car model that is f years old is given by the following exponential function. v(t) = 32,000 (0.86) Find the initial value of the car and the value after 12 years....

The dollar value v(t) of a certain car model that is t years old is given by the following exponential function. v(t) = 20,000(0.90) Find the initial value of the car and the value after 11 years.

The dollar value vt of a certain car model that is t years old is given by the following exponential function. = vt 29,9000.84 t Find the value of the car after 7 years and after 12 years. Round your...

The dollar value vt of a certain car model that is t years old is given by the following exponential function. = vt 32,0000.80 t Find the initial value of the car and the value after 11 years. Round...

The dollar value v t of a certain car model that is t years old is given by the following exponential function. = v t 27,500 0.90 t Find the initial value of the car and the value after11 years....

Chapter 3 Describe and explain the terms climate sensitivity, fat tail, and low beta, and how they relate to climate change. What are the estimated economic costs of global warming? Can we trust...

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

seventh pages Chapter 3 Curve Sketching How much metal would be required to make a 400-mL soup can? What is the least amount of cardboard needed to build a box that holds 3000 cm3 of cereal? The...

Hi Erylee88, I would like to utilize your service again. Same format different questions. Please find attached document for your review. Let me know. Thank you, Sam...

The graph of the function y=-x + 4x is: -12 -10 -8 -6 -4 124 10 -2 100 8 6 4 2 -2 6 18 -10 H -12. 2 6 00 8 Find the coordinates of its vertex and its intercepts. # 10 12

Marlblestone encountered the following situations during the preparation of its annual financial statements. Identify whether each situation should be considered a change in estimate, a change in...

Jugo Company produces apple juice sold in gallons. Recently, the company adopted the following material standard for 1 gallon of its apple juice: Direct materials 128 oz. @ $0.04 = $5.12 During the...

Complete parts a through d for the following (x,y) pairs of data points. (3,2), (4,7), (6,4), (7,8), and (9,9) a. Prepare a scatter plot of these data points. A. 10- b. Compute b. 10 b = (Round to...