Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Explore thousands of questions and answers from a knowledgeable community of experts on our user-friendly platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

A motor cycle purchased for $9,000 today will be worth 6% less each year. For what can you expect to sell the motorcycle at the end of 5years

Sagot :

abidemiokin

Answer:

$5,956.2

Step-by-step explanation:

First we need to find the amount after 5years using the formula

A =P(1+r)^n

A = 9000(1+0.06)^5

A = 9000(1.06)^5

A = 9000(1.3382)

A = 12,043.8

Interest after 5 years = 12,043.8 - 9000

Interest after 5 years = 3,043.8

Since it will be worth 6% less each year, the amount after 5years will be 9000 - 3,043.8 = $5,956.2

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.