You bought a truck in 2013 for $40,000 and want to sell it. The depreciation is 15% for used cars/trucks. What is the exponentia
l model for this situation?
2 answers:
Answer:
By model I'm assuming your meaning equation.
f(x) = 400000(0.85)^n
Step-by-step explanation:
:)
Answer:
40,000(0.85^t)
Step-by-step explanation:
The value each year is 100-15 = 85% of the previous year
85% = 0.85
New value after t years is:
40,000(0.85^t)
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APEX (Financial Lit): D. 11.4%