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A car depreciates (loses value) at a rate of 4.5% annually. Greg
purchased a car for $12,500. Which equation can be used to
determine the value of the car, V, after 5 years?
 one year ago
 one year ago
A car depreciates (loses value) at a rate of 4.5% annually. Greg purchased a car for $12,500. Which equation can be used to determine the value of the car, V, after 5 years?
 one year ago
 one year ago

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vncmnzBest ResponseYou've already chosen the best response.0
USe future value equation ...FT=PT(1+rt)
 one year ago

cwrw238Best ResponseYou've already chosen the best response.0
use V = 12,500(1  r)^n where r = annual rate of depreciation and n = number of years
 one year ago

cwrw238Best ResponseYou've already chosen the best response.0
r can be written as a decimal  i e 4.5 / 100 = .045 and n = 5
 one year ago
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