Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Tomás bought a new car for $41,000. If the value of the car depreciates by 17% each year, determine the value
of his car in 9 years.

Sagot :

abidemiokin

This is a means of reducing the cost of a goods or an asset over time. The value of the car after 9 years is approximately $888

Depreciation

This is a means of reducing the cost of a goods or an asset over time.

Mathematically, the cost of goods after a particular year is expressed as:

P(t) = P0e^-rt

Given

  • P0 =  $41000
  • rate r = 17% = 0.17
  • time t = 9 years

Substitute

P(17) = 41000r^0.17(9)
P(17) = 4100(0.21653)

P(17) = 887.79

Hence the value of the car after 9 years is approximately $888

Learn more on depreciation here: https://brainly.com/question/1287985

#SPJ1

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.