Answer: $13,846.02
Step-by-step explanation:
The car cost $29,750 when it was first bought.
It will then depreciate at a rate of 12% per year. This means that the value of the car reduces by 12% per year.
To find the value of the car in the 6th year, you can use the compound interest formula:
= Value of car * ( 1 - rate) ^ no. of years
= 29,750 * ( 1 - 12%)⁶
= 13,816.021581824
= $13,846.02
.53= 53/100
53/100 cannot be simplified so the answer is 53/100
There may be more than one way in which to answer this question. I will assume that the "equation" is a linear one: f(x) = mx + b.
Then (16/3) = m(1) + b
This is one equation in two unknowns, so it does not have a unique solution. Was there more to this problem than you have shared?
If we assume that the y-intercept (b) is zero, then y = mx, and
16/3 = 1m, so that m = 16/3, and so y = (16/3)x.
