## the value of a car is $7800 and decreases at a rate of 8 percent yearly for 6 years. Find the value after 6 years

Question

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## Answers ( )

Answer: $4730

Step-by-step explanation:

y = a(1-r)^t

Where a is amount

r is the rate

t is the time

From the question, a = $7800; r = 8% = 8/100= 0.08; t = 6years

Slot the values into the formula

y= $7800(1 – 0.08) ^6

y = $7800 (0.92) ^6

y = $4729.57

After 6 years, the value of the car will be worth approximately $4730.