Answer:
y = -1250x + 16250
x = ownership of automobile in years
y = value of automobile
This answer is found by looking at the slope using two points from the graph.
It appears from Year One the automobile value is $15000 and in Year 5 the value is $10000.
Use the slope formula to solve the problem:
|
Slope |
= |
$10,000 - $15,000 5 -1
|
|
|
= |
-$5,000 4
|
|
|
= |
-$1,250 |
This makes the equation y = -$1,250x + b. If the graph is moved to Year 0 it would change by $1,250 making the y-intercept or original cost $16,250.
This results in the equation, y = -$1,250x + $16,250.