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blondinia [14]
3 years ago
10

A new car is purchased for 15500 dollars. The value of the car depreciates at 7.5% per year. What will the value of the car be,

to the nearest cent, after 6 years?
Mathematics
1 answer:
mixer [17]3 years ago
4 0

Answer:

\$9,709.17  

Step-by-step explanation:

we know that

The  formula to calculate the depreciated value  is equal to  

V=P(1-r)^{x}  

where  

V is the depreciated value  

P is the original value  

r is the rate of depreciation  in decimal  

x  is Number of Time Periods  

in this problem we have  

P=\$15,500\\r=7.5\%=0.075\\x=6\ years

substitute

V=\$15,500(1-0.075)^{6}=\$9,709.17  

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