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Mathematics, 13.01.2020 12:31 amuijakobp78deg

Acar purchased for $24,000 is expected to lose value, or depreciate, at a rate of 8% per year. this situation can be modeled by p(t)=24,000(1-0.08)^t

what is the meaning of the output p(t) in context of the problem?
what is the meaning of the input t in context of the problem?

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Acar purchased for $24,000 is expected to lose value, or depreciate, at a rate of 8% per year. this...
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