Homework Help: Math (difficult)

Posted by Benjamin on Saturday, April 30, 2011 at 11:24pm.

The value of a new car purchased for $28,000 decreases 8% per year. Write an exponential decay model for the value of the car. Use the model to estimate the value after 5 years.

Math (difficult) - Mgraph, Sunday, May 1, 2011 at 5:50am
Let P(n) is the price after n years, then
P(n)=28000*0.92^n
P(5)=28000*0.92^5=18454

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