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A new car that sells for $19,000 depreciates (decreases in value) 21% each year. What is the decay factor, b?

A new car that sells for $19,000 depreciates (decreases in value) 21% each year. What is the decay factor, b?
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A new car that sells for $19,000 depreciates (decreases in value) 21% each year. What is the decay factor, b?

User Dukeking
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0.21 would be the answer! I think.
User Binod Kalathil
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21% or 0.21 because b =how much it is decreasing by each year which is 21% or 0.21 if your working it out using the exponetial decay formula

User Tom Cornebize
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A new car that sells for $19,000 depreciates (decreases in value) 21% each year. What is the decay factor, b?
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