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A vehicle purchased for $27,500 depreciates at a constant rate of 5%. Determine the approximate
value of the vehicle 10 years after purchase. Round to the nearest whole dollar.

Respuesta :

adioabiola

Answer:

$16,464

Step-by-step explanation:

A=P(1-r)^t

Where

P=$27,500

r=5%=0.05

t=10 years

A=P(1-r)^t

=27500(1-0.05)^10

=27,500(0.95)^10

=27,500(0.5987)

=16,464.25

To the nearest whole dollar=$16,464

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