A new car is Purchased for 16200 dollars. The value of the car depreciates at 14.25% per year. What will the value of the car be, to the nearest cent, after 6 years?

Question

Mathematics

Rory Archer

14 January, 22:27

A new car is Purchased for 16200 dollars. The value of the car depreciates at 14.25% per year. What will the value of the car be, to the nearest cent, after 6 years?

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Answers (1)

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Terry Osborn · Answer 1

6,440.5

Step-by-step explanation:

So the car starts at 16,200. For the first part of the equation it's 16,200 * x raised to the y. X in this equation would be 1-.1425 = 0.8575. 16,200 * (.8575) ^y. Y is the number of years after you purchased the car. So, 16,200 * (.8575) ^6 and that equals 6,440.5