If a new car cost $25,000 and the rate od depreciation is 8% per year. Write an equation that models the cost of a new car

Question

system of Linear Inequalities 

Answer 1

If you take off 8%, you have 92% of the previous value. One year later, it'll be 25,000(0.92). 

 

Another year. 92% of that. 25,000(0.92)(0.92)

 

Etc, etc.

 

So, if t = the number of years...

 

c(t) = 25,000(0.92)^t