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Question

The value of a certain new car decreases according to the model V(t)=39000(0.72)^t + 1000 where V(t) represents the values in dollars of the car t years after it is purchased.

a) Find the original purchase price of the car.

b) Interpret the meaning of the value 1000 in the model.

c) Calculate when the value of the car will be half its original value

Fig: 1