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Chapter 1: Q14E (page 9)

Sketch a rough graph of the market value of a new car as a function of time for a period of 20 years. Assume the car is well maintained.

Short Answer

Expert verified

The required graph is as follows.

Step by step solution

01

Describe the given information

It is required to sketch the graph of the market value of a new car versus the time period of 20 years.

02

Draw the graph of the market value of a new car as a function of time for a period of 20 years

On the graph, represent the value of the car as and the year since the car was purchased as. Initially, the car’s value will be at its highest because it is new.

The car value will decrease as time passes. The car’s value will decrease more quickly during the first few years, and then decrease less for the remaining time.

The decrease in value is shown on the graph by the graph going downhill from left to right. Initially, the graph will be more steeply downhill because the car’s value is dropping more rapidly during its first few years.

Draw the required graph as follows.

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