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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
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1+0 Answers

 #1
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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 * 0.998n             , where  n  is the number of thousands of miles.

hectictar  Jun 16, 2017

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