For this project assume you by a new car for $45,000 and the car depreciates in value at a linear rate of $5000 per year.
Step 1 Create linear equation to model the value of the car (y) after (x) years. Explain how you determined your equation? State the equation in both slope intercept and standard form.
Step 2 Find the x-intercept of this equation and explain what this coordinate means.
Step 3 Find the y-intercept of this equation and explain what this coordinate means.
Step 4 Graph this equation. Explain why you only have to use Quadrant I for this graph.
Step 5 Use your graph to estimate the value of this car after 5 years?
Step 6 Use your equation to find the exact value of the car after 5 years? If you answer differs from step 5 explain why you think is it different?