Answer:
Future Value = $ 12528.15
Step-by-step explanation:
The depreciation is applied to the car annually. The value of the car after depreciation in "n" no. of years can be given by the following formula:
where,
Future Value = ?
Present Value = $ 24000
Depreciation Rate = 15% = 0.15
n = no. of years = 4
Therefore,
<u>Future Value = $ 12528.15</u>
a = hours worked by the first mechanic
b = hours worked by the second mechanic.
since the first mechanic charges $55 per hour, then for "a" hours that'd be a total of 55*a or 55a, likewise, for the second mechanic that'd be a total charge of 80*b or 80b.
we know all hours combined are 15, so then a + b = 15.
we also know that all charges combined are $950, so 55a + 80b = 950.
