SOLUTION: Question: A new car that sells for $18,000 depreciates 25% per year. Write a function that models the value of the car. Find the value of the car after 4 yr.- All I have is a formu

Question 296875: Question: A new car that sells for $18,000 depreciates 25% per year. Write a function that models the value of the car. Find the value of the car after 4 yr.- All I have is a formula and im not sure how to use it -Pert... the way that i work it out i put the "principle" for P, then type the number "e" then the ^ button and .25 * 4 so it ends up looking like this in the caluclator:
18000e^(.25*4) and i get 18000 still....its driving me nuts and my teacher doesnt explain it well..HELP!!
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
Pert is for continuous compounding

try ___ V = 18000 (1 - .25)^y
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