Hi im new to excel and im trying to figure out this problem...
Essentially, I am supposed to use Excel to solve a problem given the following information.
-Between 1961 and 1970, 90 million cars total were produced.
-The life span of a car is assumed to be 10 years, therefore cars that were manufactured in 1961 are retired in 1970.
-Each year the number of cars produced is equal to 1.3 times the number of cars that were retired that year. Basically, the number of manufactured cars in 1970 equals 1.3 times the number of cars manufactured in 1961.
Given this data I am supposed to interpolate how many cars were produced each year between 1961 and 1970. Any suggestions how I can go about this? I am familiar with graphing in excel but equation solving aint my strong point. Any help would be great. Thanks.
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