Alex purchased a new car for 28,000. the cars value depreciates 7.25% each year. what will be value

4 answers
Question:

Alex purchased a new car for 28,000. the cars value depreciates 7.25% each year. what will be value of the car 5 years after it is purchased? round your answer to the newest dollar

Answers

If depreciation is 7.25% per year, then the common factor is (1-0.0725), or 0.9275.

Thus, the car's value after 5 years will be:

V = $28000(0.9275)^5 = $28000(0.6864) = $19218.86, or (to the nearest dollar) $19218 (answer)

$19219.

Step-by-step explanation:

We have been given that Alex purchased a new car for 28,000. The cars value depreciates 7.25% each year.

We will use exponential decay function to solve our given problem.

[tex]y=a\cdot b^x[/tex], where,

a = Initial value,

b = For decay b is in form (1-r), where r represents decay rate in decimal form.

Let us convert our given rate in decimal form.

[tex]7.25\%=\frac{7.25}{100}=0.0725[/tex]

Upon substituting our given values in above formula we will get,

[tex]y=\$28,000\cdot(1-0.0725)^5[/tex]

[tex]y=\$28,000\cdot(0.9275)^5[/tex]

[tex]y=\$28,000\cdot 0.686387856528418[/tex]

[tex]y=\$19218.8599\approx \$19219[/tex]

Therefore, the value of car 5 years after it is purchased will be $19219.

1/6 of a chance i would believe

answer: b

step-by-step explanation:

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