Question

what is the value,7years,of a 2014 ford mustang that originally costs 25000.00 if it depreciates at the rate of 8% per year? round your answer to the nearest dollar

Answer 1

Answer: the estimated answer to the equation would be 14000

Explanation:

Answer 2

The depreciated value is given by
.. v(t) = $25,000*0.92^t . . . . . t in years
Then
.. v(7) = $25,000*0.92^7 ≈ $13,946