Answer:
b = 0.938
Step-by-step explanation:
Value of the car can be modeled by the function,
V(t) = [tex]45000(b)^t[/tex]
Since, formula for the depreciation is modeled by,
V(t) = [tex]V_0(1-\frac{r}{100})^t[/tex]
Here, V(t) = Final value of the car after t years
V(0) = Initial value of the car
r = rate of depreciation
t = Time (in years)
By comparing both the functions which are similar,
[tex]1-\frac{r}{100}=b[/tex]
[tex]1-\frac{6.2}{100}=b[/tex]
b = 1 - 0.062
b = 0.938
