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17 August, 18:57

The dollar value v (t) of a certain car model that is t years old is given by the following exponential function.

V (t) = 24,500 (0.95^t)

Find the initial value of the car and the value after 13 years.

Round answers to the nearest dollar as necessary.

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  1. 17 August, 19:17
    0
    Initial value means t equals 0. Therefore

    24,500 * (0.95^0) =

    24,500*1 = 24,500

    Hence, the initial value is £24,500

    The value after 13 years means t equals 13. Therefore

    24,500 * (0.95^13) =

    12,576.88

    Hence, the value after 13 years is about £12,577
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