The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreciation, and t = time, in years. A car was purchased 6 years ago for $25,000. If the annual depreciation rate is 11%, which equation can be used to determine the approximate current value of the car?

Question

02-03-2022
Mathematics

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The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreciation, and t = time, in years. A car was purchased 6 years ago for $25,000. If the annual depreciation rate is 11%, which equation can be used to determine the approximate current value of the car?

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