The value of almost everything you own assets such as a car computer oar house depreciates goes down overtime when an asset valu
e decreases by a fixed amount each year the depreciation is called straight line depreciation suppose your truck has an initial value of $12,400 depreciates $820 per year write an equation illustrates this function if you plan to keep your truck for seven years and determine the value of the truck at the end of this. Period let v represent the dependent variable in T represent the independent variable
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Answer:
Interest earned at 3.9 percent rate is $31.2
Interest earned at 2 percent rate is $5.8
Step-by-step explanation:
A = P(1 + rt)
Where 'A' is the amount, 'r' is the rate and 't' is the time in years
When;
P = $1200
r = 3.9%
t = years
Then,
A = $1200(1 + 0.039())
A = $1200 + $31.2 = $1231.2
Interest = Amount - Principal
Interest earned at 3.9 percent rate is $1231.2 - $1200 = $31.2
When;
P = $580
r = 2%
t = years
Then,
A = $580(1 + 0.02())
A = $580 + $5.8 = $585.8
Interest earned = Amount - Principal
Interest earned at 2 percent rate = $585.8 - $580 = $5.8