Suppose you buy a car with a value of $8,500. Each year the value of your car will depreciate by 4.7%. How much will your car be worth in 6 years?

A) $11,196.93

B) $6,779.17

C) $7,488.42

D) $6,367.61

D

Step-by-step explanation:

y=a (1-r) ^n

a is the initial cost of the vehicle

r is the percentage decrease in decimal

n is the number of years.

so y as the final cost is computed as:

8500 (1-0.047) ^6

we get $6367.61