A new car is purchased for 17000 dollars.The value of the car depreciates at 12.25% per year what will the value of the car be to the neares

Question

A new car is purchased for 17000 dollars.The value of the car depreciates at 12.25% per year what will the value of the car be to the nearest cent after 14 years

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Reagan 2 weeks 2021-10-07T16:45:33+00:00 1 Answer 0

Answers ( )

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    2021-10-07T16:46:56+00:00

    Answer:

    The value of car after 12 years is $ 2982.92

    Solution:

    Given that,

    A new car is purchased for 17000 dollars

    The value of the car depreciates at 13.5% per year

    To find: Value of car after 12 years

    The decreasing function is given as:

    Where,

    y is the future value

    a is the initial value

    r is the decreasing rate in decimal

    t is the number of years

    From given,

    Substituting the values we get,

    Thus value of car after 12 years is $ 2982.92

    Step-by-step explanation:

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