Perry use the formula V parentheses T equals 24,450 (1-0.13)^t to find the value of his car T years after he purchased it what does 0.13 represent

Answer 1

In the formula V(T) = 24,450(1-0.13)^t, the value 0.13 represents the rate of depreciation or the depreciation factor. It signifies the percentage by which the car's value decreases per year. In this case, 0.13 (or 13%) indicates a 13% decrease in the car's value each year after Perry purchased it.