Depreciation Exercise Consider a car bought at $40,000 that depreciates exponentially, losing value at a rate of 20% per year. Write a model that will give the value of the car each year. Complete the table of values for 12 years. 1. Write the exponential model that could help you calculate the value for each year. 2. Complete the table: X (year) 0 1 2 3 4 5 6 7 8 9 10 11 12 Y (Value) $40,000 Amount of Decrease $0 3. How many years does it take for the value to reach half of its original value? A quarter of its value? A tenth of its value? 4. How might all of this information influence your decision to buy a new car versus a used one? Do you think that the value of all cars follows an exponential model? Explain.