Mathematics: Avehicle purchased for $29,800 depreciates at a constant rate of 8%. determine the approximate value of the vehicle 11 years after purchase. round to the nearest whole dollar.

Avehicle purchased for $29,800 depreciates at a constant

cassidy100117

11.03.2022

The value of the vehicle would be $ 11,909

Step-by-step explanation:

Given,

The original value of the vehicle, P = $29,800,

Rate of depreciation, r = 8% = 0.08

Time, t = 11 years,

Thus, the value of the car after 11 years,

A=P(1-r)^t

$=29800(1-0.08)^{11}$

$=29800(0.92)^{11}$

= 11909.193861

≈ $ 11,909

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