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A car was purchased for $21,000. Each year since, the resale value has decreased by 27%.Let / 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

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EXPLANATION

Because the car's worth reduces by 27%, if x is the car's value in year 1, the car's value in year 2 will be 0.73x.

The value of the car in year 1 was $21,000

The value of the car in year 2 will be 21,000(0.73)

The same reasoning need to be applied with year three to obtain the following expression:

[tex]y=21000\left(0.73\right)^t[/tex]

This is an exponential function where t represents the number of years.

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