Please help me find the proper equation. I'm not sure if the proper equation should be a linear or exponential equation.

Here are some intial values you can try:

Purchase Value = $35,000

Age in Months = 36,

Number of Miles = 50,000

Note that you can use kilometers if you'd rather.

Question

For every 1,000 miles on the car, reduce its value by one-fifth of a percent (0.2). Do not consider remaining miles.

Thanks,

singularityMesa

Guest Jun 15, 2017

edited by
Guest
Jun 15, 2017

#1**+1 **

Question

For every 1,000 miles on the car, reduce its value by one-fifth of a percent.

So... after each 1,000 miles, it is worth (100 - .02)% = 99.8% = 0.998 of its previous value.

So we can say....

car value = 35,000 * 0.998^{n} , where n is the number of thousands of miles.

hectictar
Jun 16, 2017