Mathematics

3 October, 10:01

The value V (t) of a $18,000 car after t years that depreciates at 20% per year is given by the formula V (t) = V0 (b) t. What is the value of V0 and b, and what is the car's value after 5 years (rounded to the nearest cent) ? Hint: Use the equation b = 1 - r to determine depreciation.

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