Answer:
1. It's value in 2009 was $16,462.575
2. It's value in 2020 will be $3,558.
Step-by-step explanation:
The equation for the value of car after t years has the following format.
In which V(t) is the value after t years, V(0) is the initial value and r is the ratio of depreciation.
In this problem, we have that:
So
1. What was its value in 2009
2009 is 3 years after 2006, so this is V(3)
It's value in 2009 was $16,462.575
2.What will be its value in 2020?
2020 is 14 years after 2006, so this is V14)
It's value in 2020 will be $3,558.
