Answer:
Explanation:
AI-generated answer
To determine the approximate value of the vehicle years after purchase, we can use the following steps:
1. Start with the initial value of the vehicle: $32,500.
2. Note that the vehicle depreciates at a constant rate of 4% per year. This means that each year, the value of the vehicle decreases by 4% of its current value.
3. Calculate the value of the vehicle after each year by multiplying the previous year's value by (1 - 0.04), which represents the 4% depreciation rate:
Year 1: $32,500 * (1 - 0.04) = $31,200.
Year 2: $31,200 * (1 - 0.04) = $29,952.
Year 3: $29,952 * (1 - 0.04) = $28,753.28.
And so on, continuing this pattern for the desired number of years.
4. Round the final value to the nearest whole dollar.
Therefore, to determine the approximate value of the vehicle years after purchase, you would need to apply the 4% depreciation rate to the initial value of $32,500 for each year and round the result to the nearest whole dollar.