One model for car depreciation is as follows, where C is the original cost, V is the value of the car after t years, and is the
rate
of depreciation
V=C(1-r)^t
of the original cost of the car was $21,000 and the rate of depreciation is 15%, what will be the value of the car after 5 years?
[Round to the nearest dollar.)
A $19,472
B. $3,150
C$9,318
D. $17,850
1 answer:
Answer:
C $9,318
Step-by-step explanation:
In order to find the answer you have to use the formula provided to calculate the value of the car after t years:
V=C(1-r)^t
C=$21,000
r=15%
t=5
V=21,000*(1-0.15)^5
V=21,000*0.4437
V=9,318
According to this, the answer is that the value of the car after 5 years is $9,318.
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