Question

Find initial value of the car and after 13 years

Answer 1

According to the given expression, the initial value is $19,900 because

`V(0)=19,900(0.95)^0=19,900(1)=19,900`

Then, after 13 years means t = 13.

`V(13)=19,900(0.95)^(13)=10,215.51`

After 13 years, the value of the car is $10,215.51.