quadratic, log, exponential

Question

The cost of a new SUV is ​$19,544. If it depreciates at a rate of 6​% per​ year, the value of the SUV in t years can be approximated by the formula V(t)=19,544(0.94)t. Find the value of the SUV in

5 years.

Answer 1

$14,343.42 for 5 year old SUV depreciating at the rate of 6% annually. new SUV value= $19,544

V(t) = 19544(.94)^5=14343.42