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A new car is purchased for 24800 dollars. The value of the car depreciates at 12% per year. What will the value of the car be, to the nearest cent, after 13 years?

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  1. 15 May, 11:52
    0
    Answer: the value of the car would be $4706.8 after 13 years.

    Step-by-step explanation:

    We would apply the formula for exponential decay which is expressed as

    A = P (1 - r) ^t

    Where

    A represents the value of the car after t years.

    t represents the number of years.

    P represents the initial value of the car.

    r represents rate of decay or depreciation.

    From the information given,

    P = 24800 dollars

    t = 13 years

    r = 12% = 12/100 = 0.12

    A = 24800 (1 - 0.12) ^13

    A = 24800 (0.88) ^13

    A = $4706.8 to the nearest cent
  2. 15 May, 11:59
    0
    4706.81
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