Mathematics, 04.06.2021 18:10, dommalb
A car had a value of $10,000 and depreciates at a rate of 7% a year. What is the cars value after 3 years.
Answers: 2
where a is the initial value of the car, b is the rate of decay, and t is the time in years. Our rate of decay can also be written as (1 - r) where r is the depreciation in decimal form. Our equation looks like this:
which simplifies to
Now we can solve our problem for any number of years you'd like. We've been tasked to find the value of the car after 3 years, so:
which simplifies a bit to:
so
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A car had a value of $10,000 and depreciates at a rate of 7% a year. What is the cars value after 3...
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