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

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

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Ariana 2 weeks 2021-09-08T19:26:27+00:00 1 Answer 0

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    2021-09-08T19:28:01+00:00

    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.

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