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sqdancefan 7 months ago
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  18.  $5890

  19.  Mitsubishi Mirage

Step-by-step explanation:

The depreciated value can be found using an exponential relation. The decay rate here is given as 12.5%. The exponential function will have the form ...

  y = a·b^x . . . . . a = initial value, b = decay factor = 1 - decay rate



The above equation will have a=15,000, representing the initial value of the car. It will have b=(1-0.125) = 0.875, the decay factor for the car's value. In the 7 years between your 18th and 25th birthdays, the car will have declined in value to ...

  y = $15000·0.875^7 ≈ $5890.44

When you turn 25, the car will be worth about $5890.



We found three cars with a price under $15,000:

  • Nissan Versa
  • Chevrolet Spark
  • Mitsubishi Mirage

Of these, the Mirage gets the best mileage and has the most cargo space. (It also has the smallest engine.) The Spark has a continuously-variable transmission, not a 5-speed manual, so will be somewhat easier to drive. Its mileage is almost as good, but its range is about 10% less than that of the Mirage or Versa.

(Your curriculum may offer different choices. We cannot tell.)

Perhaps you got a Mitsubishi Mirage.

Still have questions?