Letting \( x=1 \) correspond to the year 2017, Darnell has determined the slope-intercept form of the equation for the line that passes through the points representing the value of his car in 2017, \( (1,20,499) \) and the value of his car in 2021, \( (5,17,000) \), to be Use this equation to, find an estimate of the value of Darnell's car in 2023. Round your answer to the nearest cent. Answer
Real Tutor Solution
Answer
Solution
Sign in to Unlock Answers for Free!
A Learning Platform Trusted by Millions of Real Students and Teachers.
Reviewed and approved by the UpStudy tutoring team
Bonus Knowledge
To determine the slope-intercept form of the line that represents the value of Darnell's car, we first need to find the slope (\(m\)) between the two points \((1, 20499)\) and \((5, 17000)\). The slope \(m\) is calculated as follows: \[ m = \frac{y_2 - y_1}{x_2 - x_1} = \frac{17000 - 20499}{5 - 1} = \frac{-3499}{4} = -874.75 \] Next, we can use the slope-point form of a line to find the equation. Using the point \((1, 20499)\): \[ y - 20499 = -874.75(x - 1) \] Expanding this gives: \[ y - 20499 = -874.75x + 874.75 \] \[ y = -874.75x + 20499 + 874.75 \] \[ y = -874.75x + 21373.75 \] Now, we need to estimate the value of Darnell's car in 2023. This corresponds to \(x = 7\) since \(x = 1\) corresponds to 2017. Plugging in \(x = 7\): \[ y = -874.75(7) + 21373.75 \] \[ y = -6123.25 + 21373.75 \] \[ y = 15250.50 \] Thus, the estimated value of Darnell's car in 2023 is **$15,250.50**.