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Artyom0805 [142]

2 years ago

7

A new car is purchased for 15300 dollars. The value of the car depreciates at 14.25% per year. What will the value of the car be

, to the nearest cent, after 6 years?

1 answer:

Andrei [34K]2 years ago

3 0

Answer:

$\$6,082.70$

Step-by-step explanation:

we know that

The formula to calculate the depreciated value is equal to

$V=P(1-r)^{x}$

where

V is the depreciated value

P is the original value

r is the rate of depreciation in decimal

x is Number of Time Periods

in this problem we have

$P=\$15,300\\r=14.25\%=0.1425\\x=6\ years$

substitute in the formula

$V=15,300(1-0.1425)^{6}$

$V=15,300(0.8575)^{6}$

$V=\$6,082.70$

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