Please help it is due in 10 minutes
2 answers:
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Answer:
<em>The value of the car after 4 years is $18,000</em>
Step-by-step explanation:
<u>Formulas</u>
The model used to compute the present value of an item that depreciates yearly is
Where v is the present value, c is the original cost, r is the rate of depreciation per year, and t is the number of years that have passed.
We are required to find the value of a car originally costing c=$30,000 that depreciated at a rate of r=0.1 per year after t= 4 years
We plug in the given data
The value of the car after 4 years is $18,000