(Answered) The resale value rv of a car is a function of age of the

Economics

The resale value, RV , of a car is a function of age of the car, t. Assume the resale value is expressed as RVt = Pe-0.12t + 0.3

where P is the original price paid for the car. If P = 35000, determine the selling price of the car after 5 years. What is the rate of depreciation of the car after 7 years?

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Microeconomics, Economics

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