HeatherCox18
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A new car is purchased for 20800 dollars. The value of the car depreciates at 10.75% per year. What will the value of the car be, to the nearest cent, after 13 years.

Respuesta :

Answer:

Step-by-step explanation: Exponential depreciation formula :-

y = A(1 - r)^t, where y is the value of good after t years , r is rate of depreciation and A is the initial value.

Given : A= $20800  ; r=10.75%=0.1075  

The equation models this situation:

Then, the value of car after t=13 years :-

Hence, the value of car after 13 years = $4742.10

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