A car depreciates about 15% each year. Write a function to model the depreciation in value for a car valued at $20,000



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hala718's profile pic

Posted on (Answer #1)

We will use exponential decay equation to solve.

==>`A(t)= c(1-r)^t`

Such that:

c= initial value.

r= rate of decay.

t= time period.

Given that the car's initial value is c= 20,000

The rate of decay is given by r= 15% = 0.15

Then, the function is given by:

`A(t)= 20,000(1-0.15)^t`

`==gt A(t)= 20,000(0.85)^t`

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