You bought a sports car for $89,000. what will the car be worth after 10 years if the depreciation rate is 8%?

Well it goes down 8% every year so over the 10 years it will be 80% 89,000 minus 80% is 71200

In straight line method, the value is decreased equally at end of each year. a) So it can be represented as V=$8280 (1-t/12) where t is the no. of years completed since purchase. b) Thus after 8 years, $8280 (1-8/12) = $8280 (1/3) = $2760