A car depreciates about 15% each year. Write a function to model the depreciation in value for a car valued at $20,000
We will use exponential decay equation to solve.
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:
`==gt A(t)= 20,000(0.85)^t`