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Bezzdna [24]
2 years ago
10

A new car is purchased for 16200 dollars. The value of the car depreciates at 14. 25% per year. What will the value of the car b

e, to the nearest cent, after 6 years?
SAT
1 answer:
Ierofanga [76]2 years ago
7 0

Answer: $6440.5

Explanation:

Use the lump sum formula to calculate the value of the car after 6 years:

\begin{aligned}P &=16200\left(1-\frac{14.25}{100}\right)^{6} \\&\left.=16200+\left(\frac{85.75}{100}\right)^{6} \\&=16200(0.8575)^{6} \\&=16200 \times 0.39756 \\&=6440.50301\end{aligned}

Therefore, to the nearest cent, the car value of the car will be $6440.5 after 6 years.

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