Resale value: The resale value V , in thousands of dollars, of a boat is a function of the number of years t since the start of 2001, and the formula is V = 12.5 − 1.1t . a. Calculate V (3) and...

Resale value: The resale value V , in thousands of dollars, of a boat is a function of the number of years t since the start of 2001, and the formula is

V = 12.5 − 1.1t .

a. Calculate V (3) and explain in practical terms what your answer means.

b. In what year will the resale value be 7 thousand dollars?

 c. Solve for t in the formula above to obtain a formula expressing t as a function of V.

d. In what year will the resale value be 4.8 thousand dollars?