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Your new car costs $16,000 but it depreciates in value by about 2% each month in the first year you own it. In other words,
Your new car costs $16,000 but it depreciates in value by about 2% each month in the first year you own it. In other words, the value of the car is 98% of the value of the previous month. a) Write an equation that would indicate the value of the car at x months. b) How much will your car be worth after you have owned it for 3 months? c) How many months will it take before your car is worth less than $12,000 according to your equation? Solve graphically by showing a detailed graph and round appropriately to the nearest month
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