Question

A new car is purchased for 17900 dollars. The value of the car depreciates at 13% per year. What will the value of the car be, to the nearest cent, after 7 years?

Answer 1

Answer:

$6752.86

Step-by-step explanation:

Given that the value of a car that costs $17900 depreciates at 13% per year, the value of the car in 7 years time will be:

The formula we will use is

V(t) = P(1 - r)^t

where P = 17900 r = 13% = 0.13 and t = 7

V(t) = 17,900 * (1 -0.13)^7

V(t) = $6752.86

Answer 2

Answer:

Step-by-step explanation: