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A car is purchased. Over the next 80 years, the value of the car is expected to decline, and then increase as it becomes a vintage collector's item.

The value £V of the car t years after purchase is modeled by the formula

V=7t2−650t+20000,0≤t≤80
  1. How much did the car cost when it was newly purchased?

  2. Prove that the value of the car never reaches £4500

  3. If the car is bought at the beginning of the year 2020, during which other year will the car attain the same value as it has at the beginning of the year 2100?

Give the answer to part (c) below.

Hint

For (b), consider the discriminant of the equation

V=4500

(Remember that you need to rearrange to get 0 on one side before you can use the discriminant.)

Hint

For (c), the value of the car in the year 2100 is given when t=80.

Solution
  1. When t=0,V=£20000

  2. Suppose that V=4500. Then

    7t2−650t+20000=45007t2−650t+15500=0

    Now consider the discriminant

    Δ=6502−4(7)(−15500)=−11500<0

    Since the discriminant is negative, there is no real solution, and so no time t at which the value of the car is £4500.

  3. The year 2010 occurs when t=80, so the value is

    V=7(8)2−650(8)+20000=£12800

    Thus, we need to solve

    7t2−650t+20000=128007t2−650t+7200=0t=650±6502−4(7)(7200)2(7)=650±22090014

    We are unsurprised to see that one of the solutions is t=80. We are interested in the other solution, t=12.857….

    So the car will attain the value £12800 at some point in the year 2032.

WARNING

Although t=12.857… rounds to 13, so you might think the answer is 2033, this is not the case. The car attains the value of £12800 roughly 12.9 years after the beginning of 2020 - at this time, the year will be 2032 (almost, but not quite, 2033).