Answer: $4730
Step-by-step explanation:
y = a(1-r)^t
Where a is amount
r is the rate
t is the time
From the question, a = $7800; r = 8% = 8/100= 0.08; t = 6years
Slot the values into the formula
y= $7800(1 - 0.08) ^6
y = $7800 (0.92) ^6
y = $4729.57
After 6 years, the value of the car will be worth approximately $4730.
