Depreciation of an asset is an example of real-world problem that functions can help solve. Consider this example. Your new car depreciates in value every year you own it. Its cost is $30,000 new, and it depreciates at 15% per year. Functions will help you determine how much it is worth after five years:

N = number of years. Using this function: V = $30,000 (.85?). After 5 years, the depreciated value of the car would be $13,311.16.

In this posting: Describe an example of a real world situation that you could use functions to help solve practical problems. Consider such examples as investments, amount of money needed to save for retirement or to pay off a student loan, or appreciation of assets. Calculate specific numbers in your example. For example, if you selected the amount of money you need to save for retirement or to pay off a student loan, consider your age, income, ability to save, income, interest rates, and so on.