Anew car that sells for $21,000 depreciates (decreases in value) 16% per year. write a function that models the value of the car. find the value of the car after 3 years. a) $8,602 b) $11,779 c) $12,899 d) $12,447

The function is:

21000 * (1 - )

The price after 3 years would be D) $12,447

Step-by-step explanation:

Because the value is depreciating, the price will decrease.

The function formula is:

Amount x (1 ± )

Where n is the amount of years and the ± is a + if the value is increasing, and a - if the value is depreciating.

So plug the values in, with a minus:

21000 * (1 - )

The price after 3 years would simply be the following equation:

21000 * (1 - )

Which gives the result 12446.7 or 12447 to 1.d.p

This means that the answer is D) $12,447!

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