Question

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 the multiplier for this situation?
PLEASE SHOW ALL WORK!

Answer 1

The multiplier that would be used to calculate the depreciation of the car is 0.83^y.

What does depreciation mean?

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