Answer:
• Initial value: $26,000.
,
• Value after 12 years: $1,319
Explanation:
The value of a car model that is t years old is given by the function:
[tex]v(t)=26,000(0.78)^t[/tex]
(a)The Initial Value
At the initial point of purchase, the value of t=0.
[tex]\begin{gathered} v(0)=26,000(0.78)^0 \\ =26000\times1 \\ =\$26,000 \end{gathered}[/tex]
The initial value is $26,000.
(b)Value after 12 years
When t=12:
[tex]\begin{gathered} v(12)=26,000(0.78)^{12} \\ =1318.6 \\ =\$1,319 \end{gathered}[/tex]
The value of the car after 12 years is $1,319 (correct to the nearest dollar).
