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Math (difficult)

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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) -

    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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