Vehicle Buying Guide You are in the market for a new vehicle but you want to be financially wise in your decision-making process. You know that all vehicles lose their value over time, but there are some that hold their value better than others. It’s your job to figure that out! Follow the steps below to determine which vehicle would make a better investment in the next ten years using exponentials and logarithms. (See, math IS useful!) Step 1 (15 points): Choose 3 vehicles that you are interested in purchasing. Use Kelley Blue Book (kbb. com) to find a used model for each vehicle somewhere between the years 2014 and 2016. NOTE: To get a reliable result, make sure you pay attention to the condition of the vehicle as well as the number of miles on the vehicle (should be around 10,000-12,00 per year). Do not choose a used vehicle that has too many miles or is in bad condition. This will skew the numbers. Step 2 (3 points): Look up the original value (called MSRP) of each vehicle you chose in Step 1. Step 3 (27 points): We will assume that cars depreciate exponentially. Calculate the depreciation rate using the formula A=P(1-r)^t Step 4 (2 points): Determine which vehicle would be the best investment and find the price of a new model (year 2022) Step 5 (8 points): Assuming you take good care of your car and do not put too many miles on it, determine how much your car will be worth for resale in the year 2030. Step 6: Create an organized presentation of your findings. Make sure you include ALL of the following information in your project to earn points for each step: A screenshot of the Kelley Blue Book listing for each vehicle you choose Information should include a picture of the vehicle, the price, the vehicle’s make and model, year, and the number of miles on it The original value of each vehicle ALL of the work to solve for the depreciation rate of each vehicle A clear choice of which vehicle is the best investment and the new model’s current price ALL of the work to calculate the predicted value of the new