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The general equation for depreciation is given by y = A(1 – r)t, where y = current value, A = original cost, r = rate of depreciation, and t = time, in years. The original value of a car is $24,000. It depreciates 15% annually. What is its value in 4 years?

Respuesta :

[tex]y = A(1 - r)^{t}[/tex]
[tex]y = 24000(1 - 0.15)^{4}[/tex] - this means we want the value of the car when it's depreciated 15% in 4 years.

Alternatively, this is saying:
[tex]A_1 = A(1 - 0.15)[/tex]
[tex]A_2 = A_1(1 - 0.15)[/tex]
[tex]A_3 = A_2(1 - 0.15)[/tex] and so on.

Thus, after 4 years, the car's value becomes $12528.15
rileygschafer

Answer:

12528.15

Step-by-step explanation:

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