Suppose you plan to purchase a new car after selling your old car for scrap. The value of the new car is $19,200, Your old car is expected to last 8 years and then it can be sold for scrap for $800. Complete parts a) through e) below. a) How much do you need to save if you want to pay cash for the new car? b) How much should you save each year, in order to have sufficient cash to buy the car? (Assume that no interest is being paid on the savings; therefore, Ignore any interest calculations.) Answer in dollars per year. c) Write an algebraic equation expressing the relationship between the total amount of money saved for the new car and the number of years that have passed. Let S= the amount of money saved and t= the number of years. d) Is the relationship between total amount of money saved and the year proportional? Justify your response. Select the correct response below and if necessary, fill in the answer box to complete your choice. A. Yes, the relationship is proportional. The ratio of S to t is each time. B. No, the relationship is not proportional. The ratio of S to t changes from year to year. e) Do you think it would work to save money "once per year," as parts a) through d) have been describing, or each month? Write the equation that describes saving every month. Let S- the amount of money saved and let t-the number of months.
Suppose you plan to purchase a new car after selling your old car for scrap. The value of the new car is $19,200, Your old car is expected to last 8 years and then it can be sold for scrap for $800. Complete parts a) through e) below. a) How much do you need to save if you want to pay cash for the new car? b) How much should you save each year, in order to have sufficient cash to buy the car? (Assume that no interest is being paid on the savings; therefore, Ignore any interest calculations.) Answer in dollars per year. c) Write an algebraic equation expressing the relationship between the total amount of money saved for the new car and the number of years that have passed. Let S= the amount of money saved and t= the number of years. d) Is the relationship between total amount of money saved and the year proportional? Justify your response. Select the correct response below and if necessary, fill in the answer box to complete your choice. A. Yes, the relationship is proportional. The ratio of S to t is each time. B. No, the relationship is not proportional. The ratio of S to t changes from year to year. e) Do you think it would work to save money "once per year," as parts a) through d) have been describing, or each month? Write the equation that describes saving every month. Let S- the amount of money saved and let t-the number of months.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Transcribed Image Text:Suppose you plan to purchase a new car after selling your old car for scrap. The value of the
new car is $19,200, Your old car is expected to last 8 years and then it can be sold for scrap for
$800. Complete parts a) through e) below.
a) How much do you need to save if you want to pay cash for the new car?
b) How much should you save each year, in order to have sufficient cash to buy the car?
(Assume that no interest is being paid on the savings; therefore, Ignore any interest
calculations.) Answer in dollars per year.
c) Write an algebraic equation expressing the relationship between the total amount of
money saved for the new car and the number of years that have passed. Let S= the
amount of money saved and t= the number of years.
d) Is the relationship between total amount of money saved and the year proportional?
Justify your response. Select the correct response below and if necessary, fill in the
answer box to complete your choice.
A. Yes, the relationship is proportional. The ratio of S to t is
each
time.
B. No, the relationship is not proportional. The ratio of S to t changes from year
to year.
e) Do you think it would work to save money "once per year," as parts a) through d) have
been describing, or each month? Write the equation that describes saving every month.
Let S= the amount of money saved and let t-the number of months.
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