Respuesta :
Answer:
F = $11,421.90
Final value after 5 years F = $11,421.90
Complete question;
You purchased a vehicle for $32,000. It's value will depreciate at a rate of 18.62%. What will it's value be in 5 years, when you finally have it paid off
Step-by-step explanation:
Given;
Initial value P = $32,000
Depreciation rate r = 18.62% = 0.1862
Time t = 5
Final value = F
Using the compound depreciation formula;
F = P(1 - r)^t
Substituting the values;
F = $32,000(1 - 0.1862)^5
F = $11,421.90
Final value F = $11,421.90
Answer:
$11421.90
Step-by-step explanation:
For a property worth Principal, P which depreciates at a rate of r% for a period of n years, the value is given by the formula:
Value=P(1-r)ⁿ
For the Car,
Purchase Price, P=$32000
Depreciation Rate=18.62%=0.1862
Time, n=5 years
Therefore the worth of the car after 5 years =32000(1-0.1862)⁵
=32000(0.8138)⁵
=$11421.90
