Question

The general equation for depreciation is given by y=a(1-r)^t where y=current value.

Answer 1

With the help of the given equation, we know that the automobile is worth $12528.15 after four years.

What are equations?

• A mathematical equation is a formula that uses the equals sign to represent the equality of two expressions.
• a formula that expresses the connection between two expressions on each side of a sign.
• Typically, it has a single variable and an equal sign.
• Like this: 2x - 4 Equals 2.
• In the above example, the variable x exists.

So, the equation of depreciation: y = A(1 - r)∧t

The current value is y.

A is the initial cost.

r is the depreciation rate.

t is the time in years, and

In four years, we must ascertain the present value.

Now,

y = $24000(1 - 0.15)⁴

y = 24000(0.85)⁴

y = 24000 × 0.52200625

y = 12528.15

Therefore, with the help of the given equation, we know that the automobile is worth $12528.15 after four years.

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Complete question:
The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreciation, and t = time, in years. The original value of a car is $24,000. It depreciates 15% annually. What is its value in 4 years? $