The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreci
ation, and t = time, in years. A car was purchased 6 years ago for $25,000. If the annual depreciation rate is 11%, which equation can be used to determine the approximate current value of the car? A. y=25,000(.89)^6
B. y=(25,000 x .11)^6
C. y=(25,000 x .89)^6
D.y=25,000(.11)^6