Question

You bought a truck in 2013 for $40,000 and want to sell it. The depreciation is 15% for used cars/trucks. What is the exponential model for this situation?

Answer 1

By model I'm assuming your meaning equation.

f(x) = 400000(0.85)^n

Explanation:

:)

Answer 2

40,000(0.85^t)

Explanation:

The value each year is 100-15 = 85% of the previous year

85% = 0.85

New value after t years is:

40,000(0.85^t)