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You purchase a new car today.the value of that car depreciates based on the function f(t)=12,000(0.96)^t, where t is measured in years after purchase. How much is the car worth after 3/2 years, rounded to the nearest dollar

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CintiaSalazaridn

Considering the definition of exponential function, the value of the car is 11,287.25 dollars.

What is exponential function

An exponential function is one in which the independent variable x appears in the exponent and has a constant a as its base. Its expression is:

f(x)= aˣ

Being a a positive real, a > 0, and different from 1, a ≠ 1.

When 0 < a < 1, then the exponential function is a decreasing function and when a > 1, it is an increasing function.

What is the price of the car

In this case, the value of that car depreciates based on the function f(t)=12,000×[tex]0.96^{t}[/tex] where t is measured in years after purchase.

After 3/2 years, the value of the car is calculated as:

f(3/2)=12,000×[tex]0.96^{3/2}[/tex]

Solving:

f(3/2)= 11,287.25

Finally, the value of the car is 11,287.25 dollars.

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