SOLUTION: A car has a purchase price of $23,500. The value declines continuously at an exponential rate of 27% annually. a. What is an equation modeling the value of this car after "t" y

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Question 1005053: A car has a purchase price of $23,500. The value declines continuously at an exponential rate of 27% annually.
a. What is an equation modeling the value of this car after "t" years?
b. What is the value after 5 years?
c. How long will it take for its value to be $2000?
Found 2 solutions by josgarithmetic, MathTherapy:
Answer by josgarithmetic(39617)   (Show Source): You can put this solution on YOUR website!












--
(b)
Let t=5

(c)
I just did part (c).
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

A car has a purchase price of $23,500. The value declines continuously at an exponential rate of 27% annually.
a. What is an equation modeling the value of this car after "t" years?
b. What is the value after 5 years?
c. How long will it take for its value to be $2000?
Equation for value of car after "t" years: 

Value of car after 5 years: . Calculate V(5)

Time it'll take for value to be $2,000: . Calculate "t." 

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