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Value of the car to be half the initial value

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Reference no: EM131040612

Assume the initial value of a car is $18,000 and that the car's value depreciates. The value of the car can be modeled with an exponential function, V = Iekt, where V is the value of the car at year t, I is the initial value of the car, and k is a constant. Find the number of years it would take for the value of the car to be half the initial value if k is equal to -0.038. Round the answer to the nearest hundredth

Reference no: EM131040612

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