Question

I NEED HELPPPPP QUICK PLEASE HELP THANKS

The formula for finding the present value of an item that depreciates yearly is v=c-crt. In this​ formula, v is the present​ value, c is the original​ cost, r is the rate of depreciation per​ year, and t is the number of years that have passed. After 4 ​years, what is the value of a car originally costing ​$30,000 that depreciated at a rate of 0.1 per​ year?
The value of the car after 4 years is ​??

Answer 1

18000$

Explanation:

Frim the text you have the formula:

V=c-crt

where,

c=30000

r=0.1

t=4

So, new value after 4y:

V=30000-4*0,1*30000=30000-12000=18000