Anew car depreciates as soon as you drive it out of the parking lot. a certain car depreciates to half its original value in 4 years. if you bought a car 8 years ago and it is now worth $5000, how much did you pay for the car originally

Original price of car = $20,000

Step-by-step explanation:

Let the original price of the car be 'x' dollars.

Given:

Here, the depreciation of the car is occuring exponentially as the value depreciates to half in every four years.

Worth of car after 8 years = $5000

Value after depreciation in 4 years = Half of original value =

So, value of car after depreciation in another 4 years = Half of the value after 4 years =

Therefore, final depreciated value after 8 years is .

But, as per question, final depreciated value is $5000. Thus,

Therefore, the original price of the car was $20,000.

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

n

step-by-step explanation: