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The function V(t) = 38000 (0.94)^t represents the value (in dollars) of a car "t" years after its purchase. Use this function to complete the statements below.

The value of this car is decreasing at a rate of ______
Describe how an exponential function model helped you answer this question.
*will give brainliest!

Answer :

The value of this car is decreasing at a rate of 6% per year.

The function V(t) = 38000 (0.94)^t represents the value (in dollars) of a car "t" years after its purchase

What is rate of change?

Rate of change is defined as the change in value with rest to the time is called rate of change.

Here,

V(t) = 38000 (0.94)^t
Cleary, above function is an exponential function
while putting certain values in equation we have certain outcomes.
for,
V(1) = 35720;    V(2) =33576.8;      V(3) = 31562.192

Now, the rate of change is given by = [V(2)-V(1)/ V(1)] x 100
= [(33576.8-35720)/35720]*100
= 6%

now V(2) x 6% = V(3)
33576.8 x 6% = 31562.192 = V(3)

Thus, The required rate of decreasing care price is 6%.

Learn more about rate of change here:
https://brainly.com/question/13103052

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