Question

A new car is purchased for 25800 dollars. the value of the car depreciates at 12% per year. What will the value of the car be, to the nearest cent, after 13 years?​

Answer 1

To solve this problem, we can use the formula for exponential decay:

A = P(1 - r)^t

where A is the final amount, P is the initial amount, r is the rate of decay (as a decimal), and t is the time period.

In this case, we have:

P = 25800
r = 0.12
t = 13

Plugging in these values, we get:

A = 25800(1 - 0.12)^13
A = 25800(0.88)^13
A ≈ 5425.91

Therefore, the value of the car after 13 years will be approximately 5425.91 dollars.