Question

you bought a car for $5000. each year it depreciates by 8.5%. Which equation can be used to find the value, v, of the car, x years after it was purchased?

Answer 1

We have the following:

In this case, we have the following formula:

`v=C\cdot(1-r)^x`

Where C is the original value of the car, r is the depreciation rate and x is the time in years