The dollar value v t of a certain car model that is t years

The dollar value v (t) of a certain car model that is t years old is given by the following exponential function. v (t) = 20,000(0.78^t) Find the initial value of the car and the value after 13 years. Round your answers to the nearest dollar as necessary. Initial value: exist0 Value after 13 years: exist0

Solution

Initial Value = v(0) = 20000(0.78⁰)

=> v(0) = 20000 dollars

After 13 years = v(13) = 20000(0.78¹³)

=> v(13) = 20000 x 0.039558

=> v(13) = 791.1518 => 791 dollars