FAST CARS The moment you drive a new car off the dealer's lot, the car is worth less than what you paid for it. This
phenomenon is called depreciation, which means you will sell the car for less than the price that you paid
for it. Some cars depreciate more than others (that is, they depreciate at different rates), but most cars
depreciate over time. On the other hand, some older cars actually increase in value. This is called
appreciation. Let's suppose that in 2012, Jeralyn had a choice between buying a 2010 Fonda Concord EX
for $27,000, which depreciates at 6% per year; a 2010 Padillac Escalate for $39,000, which depreciates at
22.5% per year; or a 1967 Fyord Rustang for $15,000 that is appreciating at 10% per year.
Your Task: Investigate the value of each of the three cars over time.
• Generate multiple representations of the value of each car over time.
• For each of the new cars, determine how much value they lost in dollars) from the time they were new in 2010 until 2012
• Decide which car Jeralyn should buy and defend your choice in as many ways as you can.
Hints: 1) You should only use the positive portion of you axes
2) Use a scale that makes sense
3) Give a summary statement of which car is best and the math to prove WHY