The value of a car that is t years old can be modeled by V(t)= 420,000(0.965)^t .what would be the car's worth in 2 years time? How many years will the car be worth $325,000?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
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Problem 1.2CE: Plot the logarithm of arrivals for each transportation mode against time, all on the same graph....
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The value of a car that is t years old can be modeled by V(t)= 420,000(0.965) ^t.what would be the car's worth in 2 years
time? How many years will the car be worth $325,000?
Transcribed Image Text:The value of a car that is t years old can be modeled by V(t)= 420,000(0.965) ^t.what would be the car's worth in 2 years time? How many years will the car be worth $325,000?
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