Chris purchased a used car for $19,700. the car depreciates exponentially by 10% per year. how much will the car be worth after 6 years? round your answer to the nearest penny.

Given: Purchasing value of car = $19,700,

                 Rate of depriciation = 10% per year.

To find:  Final value of car after after 6 years.

Solution : Because rate of car is being depriciated exponential. So, we would exponential formula.

Where, P is the purchase value, k is the rate of depriciation and t is the number of years.

Plugging values P = 19,700, r=10% that is 0.10 and t= 6 in above formula.

A= 19,700 (0.54881163609)

A= 10811.5892311.

Rounding to the nearest penny (two decimal places0.

A= 10811.59.

Therefore, Final value of car after after 6 years = $ 10811.59

answer

false

explanation

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