Question

Giving medal. A new car that sells for $21,000 depreciates (decreases in value) 16% each year. Write a function that models the value of the car. Find the value of the car after 3 years. a.$12,447 b.$11,779 c.$12,899 d.$8,602

Answer 1

Hi there
The formula is
A=p (1-r)^t
A future value?
P present value 21000
r rate of depreciation 0.16
t time 3 years
So
A=21,000×(1−0.16)^(3)
A=12,446.8 round your answer to get
A=12447

So it's a
Hope it helps

Answer 2

$21,000-16%
16% of $21,000 is $3,360
$21,000-$3,360=$17,640
1st year would be $17,640

16% of $17,640 is $2,822
$17,640-$2,822 is $14,817
2nd year would be $14,817

16% of $14,817 is $2,370
$14,817-$2,370=$12,446
3rd year would be $12,446

$12,446 rounded would be $12,447

So A) $12,447

Hope this helps out :)