SOLUTION: Could someone please help me? A certain model car depreciates according to the function V= N*e^-0.23t, where N is the cost of the car when it is new and V is its value t years l

SOLUTION: Could someone please help me? A certain model car depreciates according to the function V= N*e^-0.23t, where N is the cost of the car when it is new and V is its value t years l

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Question 62065: Could someone please help me?
A certain model car depreciates according to the function V= N*e^-0.23t, where N is the cost of the car when it is new and V is its value t years later. How old is a car of this model if it cost $24000 new and is now worth $6000?
Answer by Nate(3500) (Show Source): You can put this solution on YOUR website!
V = N*e^(-0.23t)
6000 = 24000*e^(-0.23t)
1/4 = e^(-0.23t)
ln(1/4) = -0.23t
ln(1/4)/-0.23 = t
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