The value of a car decreases the older it gets. Matthew bought a new car for $14,000. Every year, the value of his car decreases by 5%. Write a function formula f(x) for the value of Matthew's car where x represents the number of years since he bought it.

Question

The value of a car decreases the older it gets.  Matthew bought a new car for $14,000.  Every year, the value of his car decreases by 5%.  Write a function formula f(x) for the value of Matthew's car where x represents the number of years since he bought it.

anonymous · Answer

f(x)=14,000 minus (1-.05)^x

anonymous · Answer

should be right, its been a long time since ive worked that formula

jim_thompson5910 · Answer

Formula should be 

$$\large y=14000(0.95)^{x}$$

anonymous · Answer

times not minus sorry. hes right

anonymous · Answer

but write f(x) not y because it is a function

jim_thompson5910 · Answer

good point, forgot about that piece

$$\large f(x)=14000(0.95)^x$$