Respuesta :
The value of the car after 6 years when the rate of depreciation is 14.25% and the original value of the car is $16,200 is $6,440.5.
What is Percentage?
A percentage is a way to describe a part of a whole. such as the fraction 1/4 can be described as 0.25 which is equal to 25%.
To convert a fraction to a percentage, convert the fraction to decimal form and then multiply by 100 with the '%' symbol.
We know that the value of the car is depreciating by a rate of 14.25%, also, the cost of the car initially, P = $16,200, therefore, the remaining value of the car will be 85.75% of the initial value. Now, writing the situation in the form of an equation,
[tex]P(1-r)^t\\[/tex]
where t is the period of the time in years,
[tex]P(1-r)^t\\\\= 16,200(1-0.1425)^6\\\\= \$6,440.503[/tex]
Hence, the value of the car after 6 years when the rate of depreciation is 14.25% and the original value of the car is $16,200 is $6,440.5.
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