Real World Applications – Algebra I
What’s a car worth?
How much is a car worth? You’ve already done several activities in this concept that calculate a car’s worth. You already know that as time passes, a car’s value depreciates. How can you calculate the depreciation rate if it’s not given to you?
- Choose a car that you, a friend, a relative, or a neighbor has. Make sure you can talk to the car’s owner. You have a lot of questions to ask them!
- What year did you purchase this car? How much did you purchase this car for? How many years have you had this car?
- What is the car’s mileage?
- Once you have this information, use the internet to find out how much this car is worth present day.
- You can use the Kelly Blue Book website: www.kbb.com
- Create an equation using the information you have.
- What is the initial value?
- What is the amount of time that has passed?
- What is the value of the car for that amount of time passed?
- What are some methods to find out the depreciation rate?
- One of the methods is using a calculator. You can use a the Guess and Check method to find out different values of “” that would make the equation true.
- How could you find the “” value algebraically? Show all steps. You will need a scientific or graphing calculator to do this.
- Graph this relationship. What values are on the axis and axis? What values make sense on these axes?
- Is there ever a time when the car will have no value? If so, when will this happen? If not, why not?
- 7. Use the internet to find the value of a different car in two different years.
- 8. Use this information to find the initial value of the car.
- a. Need help? Get the unknown variable on one side of the equation for both equations, and set the two equations equal to each other.
- b. You will need to use logarithms to solve this!