In 2008, a 60 Month loan at 7.3% on a new Ford Mustang (Financing $27,840) will result in a monthly payment of $555.21. As a rule of thumb, a car depreciates in value by 15% every year.

Write a recursive formula and an explicit formula for the value of the Mustang over time where a n represents the beginning of the year.

Graph the sequence in #6 over a 10 year time span. Explain the connection between this geometric sequence and a corresponding exponential function.