Elliot’s dad bought a new car for $31,000 in 2012. Elliot read that a new car loses about 13% of its value each year. What is th
e multiplier for this situation?
PLEASE SHOW ALL WORK!
1 answer:
The multiplier that would be used to calculate the depreciation of the car is 0.83^y.
<h3>What does depreciation mean?</h3>
Depreciation is when the value of an asset declines due to wear and tear.
The equation that can be used to represent depreciation is:
Value of the asset x (1 - rate of depreciation)^years
$31,000 x 0.83^y.
To learn more about depreciation, please check: brainly.com/question/25552427
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