A car was purchased for $25,000. Research shows that the car has an average yearly depreciation rate of 18.5%. Create an exponential equation that will determine the value, V(1), of the car t years after purchase. Determine the value of the car at year 3 from the formula. Determine the value of the car at year 4 from the formula. How much, to the nearest cent, does the car depreciate from year 3 to year 4?
A car was purchased for $25,000. Research shows that the car has an average yearly depreciation rate of 18.5%. Create an exponential equation that will determine the value, V(1), of the car t years after purchase. Determine the value of the car at year 3 from the formula. Determine the value of the car at year 4 from the formula. How much, to the nearest cent, does the car depreciate from year 3 to year 4?
Chapter10: Exponential And Logarithmic Functions
Section10.5: Solve Exponential And Logarithmic Equations
Problem 10.86TI: Rachel invests $15,000 at age 25. She hopes the investments will be worth when she turns 40. If the...
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