Question

An equation for the depreciation of a car is given by y = A(1 - 1)', where y = current value of the car, A = original cost, r = rate
of depreciation, and t = time, in years. The current value of a car is $12,282.50. The car originally cost $20,000 and
depreciates at a rate of 15% per year. How old is the car?

2 years
3 years
3 years
4 years

Answer 1

I’m pretty sure the answer is 3years