knightzariyah3
Answered

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3. If you buy a new car for $6,000 which depreciates at 4%/year,
what will the value be after 3 years?

Sagot :

marcthemathtutor

Answer:

$5,308.42

Step-by-step explanation:

(see attached for reference)

recall that the formula for Depreciation

is given by

A = P ( 1 - r)^t,

where

A = final amount

P = principal amount = given as $6,000

r = depreciation rate = given as 4% = 0.04

t = time in years = given as 3,

Simply substitute these into the equation to get:

A = P ( 1 - r)^t

= 6000( 1 - 0.04) ^ 3

= 6000 (0.96)^3

= $5,308.42

View image marcthemathtutor
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