The table below gives the value of a car over two years.Using an exponential best-fit model, after how many years is the car valued at 25% of the original value?
Year 0 0.5 1.0 1.5 2.0
Value ($)15,500.00 14,560.00 13,911.20 12,969.66 12,204.09
Exponential equation will be...
Y = 15517.9432*(0.888^X)
Y = Value
X = year
for Y = 15000/4 = 15517.9432*(0.888^X)
X=>11.95 Years (approximately 12 years)
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