Question

7) You buy a new car for $25,000 and it begins

to depreciate value as soon as you drive it off
the lot. The car depreciates at an annual rate
of 7%. Write an exponential equation that
shows what is happening to the value of the
car over time.

Answer 1

y=25,000(0.07)^t

Step-by-step explanation: t= year/month. not specified, but year is most appropriate for these kind of equations.