SOLUTION: Exponential decay: You buy a car for 21,500. The value of the car decreses every year by 12%(=depreciation rate). What is the value of the car after 5 years? The model to be used t

Question 765067: Exponential decay: You buy a car for 21,500. The value of the car decreses every year by 12%(=depreciation rate). What is the value of the car after 5 years? The model to be used to solve this problem is:
Value($)= Initial Price(1-depreciation rate) years
Answer by josgarithmetic(39620) (Show Source): You can put this solution on YOUR website!

You could build that from a year by year sequence of steps.
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