7 hundreds +5 tens +9 ones is the same as 7 hundreds +4 tens + ones
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Answer:
$8,335.
4 years.
Step-by-step explanation:
There are two ways to find the future value of a car that depreciates.
The first way to find the value is to use the annual depreciation formula
Let's break down the variables and value that we already have available.
FV = ?
PV = 26,000
r = -15% (We change this to negative because the value is depreciating)
n = 7
Now let's use the formula and substitute all the variables and values that we have.
So after 7 years the value will be $8335.00.
Another way is to use a balance sheet to see how much the value will go down.
Please refer to the attached image.
