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The exponential equation that models this situation is:
.
A decaying exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the decay rate, as a decimal.
For this problem, the parameters are:
A(0) = 18000, r = 0.15.
Hence the equation for the value of the car over the next 5 years is:
.
More can be learned about exponential functions at brainly.com/question/25537936
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