The value of a car is modelled using the formula V=17100e−0.2t+2000V = 17100e^{-0.2t} + 2000V=17100e−0.2t+2000
Find the initial value of the car.
Given the model predicts that the value of the car is decreasing at a rate of £1000 per year at the instant when t=Tt = Tt=T, (i) Show that 3420e−0.2T=10003420e^{-0.2T} = 10003420e−0.2T=1000 and (ii) find the age of the car at this instant, giving your answer in years and months to the nearest month.
Practise AQA A Level Maths 1.9 F: Exponentials and logarithms with exam-style questions for A Level Maths. 37 questions covering 1.9.1 Exponential functions and their graphs, 1.9.2 Gradient of e^kx (A-level only), 1.9.3 Logarithms as inverse functions, 1.9.4 Laws of logarithms, 1.9.5 Solving exponential equations, 1.9.6 Logarithmic graphs to estimate parameters (A-level only), and 1.9.7 Exponential growth and decay, matched to the AQA A Level Maths (7357) specification and written in Paper 1, Paper 2 and Paper 3 style. Every question includes a full worked solution and mark scheme, so you can see where marks are awarded rather than just whether you got the answer right.