Question

Kelly bought a new car for $20,000. The car depreciates at a rate of 10% per year. Write an equation to model the car’s value. Use your equation to determine the value of the car six years after Kelly purchased it

Answer 1

Answer:

P=P'(1-R/100)^T

Where P = Final price

P'=Initial price

T=Time

R=Rate of Depreciation.