the equation that represents the value of the car after 5 years is Value of car after 5 years = 21,100 x 0.98^5 = 19,105.08
How to calculate the equation that represents the value of the car after 5 years
Given:
The cost price of the car, P = $21100,
The depreciation rate = 2%
Calculate the value of the car after 6 years by the following formula,
A = P (1- r / 100)ⁿ
Here A is the value of the car after 6 years.
Substitute the values,
A = 21100 × (1- 2 / 100)^5,
A = $19,105.08
Therefore, the equation that represents the value of the car after 5 years is Value of car after 5 years = 21,100 x 0.98^5 = 19,105.08