Question

Ryan bought a brand new car for $18,000. Its value depreciated at a rate of 1.2%.

Answer 1

Answer:

A(t)= 18000(0.988)^t

Step-by-step explanation:

Given data

Ryan bought a brand new car for $18,000

Its value depreciated at a rate of 1.2%

Let us use the compound expression

A= P(1-r)^t

substitute

A= 18000(1-0.012)^t

A(t)= 18000(0.988)^t

Hence the expression is A(t)= 18000(0.988)^t