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?
<pre>Equation for value of car after "t" years: {{{highlight_green(V(t) = 23500e^(- 0.27t))}}}
Value of car after 5 years: {{{highlight_green(V(5) = 23500e^(- 0.27(5)))}}}. Calculate V(5)
Time it'll take for value to be $2,000: {{{highlight_green(2000 = 23500e^(- 0.27t))}}}. Calculate "t."