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12 October, 10:31

Suppose you buy a car with a value of $8,500. Each year the value of your car will depreciate by 4.7%. How much will your car be worth in 6 years?

A) $11,196.93

B) $6,779.17

C) $7,488.42

D) $6,367.61

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  1. 12 October, 10:42
    0
    D

    Step-by-step explanation:

    y=a (1-r) ^n

    a is the initial cost of the vehicle

    r is the percentage decrease in decimal

    n is the number of years.

    so y as the final cost is computed as:

    8500 (1-0.047) ^6

    we get $6367.61
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