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22 August, 11:23

Sarah bought her car for $17,440. it is expected to depreciate an average of 14% each year during the first 6 years. what will the approximate value of her car be in 6 years?

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  1. 22 August, 11:28
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    Given that the value of the bought car depreciates by 14%, its value is only 86% of its value from the previous year. With the known equation,

    V = P x (1-d) ^n

    Where V is the current value, P is the original value, d is the depreciation rate, and n is the number of years. Substituting,

    V = ($17,440) x (1 - 0.14) ^6

    = $7055.65

    Thus, after 6 years, the car would only be $7055.65.
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