00:01
We are going to calculate the depreciation of a new car, and our initial value of our new car was 15 ,300.
00:12
It's given us a depreciation rate of 14 .25, and if we change that to a decimal, 0 .1425.
00:23
And we have our function here, f of x is equal to a, b, raised to the x power.
00:35
So let's substitute the values we have, our initial value of our vehicle, 15 ,300 times b.
00:44
Your b value is one plus or minus your rate, depending on whether you have growth or depreciation.
00:52
In our case, we have depreciation.
00:54
So we're going to say 1 minus 0 .1425, and that would give us 0 .8575...