Sally bought a car for 35000 in 2017. If the car loses 5.5% semiannually, what will the value of the value of the car be at the

Question

dem82 [27]

2 years ago

9

Sally bought a car for 35000 in 2017. If the car loses 5.5% semiannually, what will the value of the value of the car be at the

end of 2025

Mathematics

1 answer:

kumpel [21] · Answer 1 · 2022-06-13T01:17:54+03:00

kumpel [21]2 years ago

5 0

The value of the year at the end of 2025 will be given by:
A=P(1+r/100)^n
where:
A=future value
P=principle
r=rate
n=number of terms
hence for the data given;
p=35000
R=5.5
n=(2025-2017)*2=16
Thus
A=35000(1+5.5/100)^16
A=$82, 434. 20