Question

A car was purchased for $19,000 . Each year since, the resale value has decreased by 21% .
Let t be the number of years since the purchase. Let y be the resale value of the car, in dollars.
Write an exponential function showing the relationship between y and t .

Answer 1

After 1 year, the value is
\[y=19000 (1-0.21)\]
Ater 2 years , the value is
\[y=19000(1-0.21)^{2}\]
And so on...