Answer:
$12,528.15
Step-by-step explanation:
what you do is mulitply 0.15 x 24000 and then take that number and subtract it from 24000, then take the number you get from that and multiply it by 0.15 and so on and so forth. Do this 4 times and youll get $12,528.15
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Depreciation is the rate by which the value of an object reduces with respect to time. The value of the car after 4 years will be $12,528.15.
Depreciation is the rate by which the value of an object reduces with respect to time. it is given by the formula,
[tex]A=P(1-r)^t[/tex]
where A is the value of the object after t period of time, P is the principal amount, r is the rate of depreciation, and t is the time period.
The original value of a car is $24000 it depreciates 15% annually. Therefore, The value of the car after 4 years is:
Value of the car after 4 years = $24,000(1-0.15)⁴
= $24,000 × 0.522
= $12,528.15
Hence, the value of the car after 4 years will be $12,528.15.
Learn more about Depreciation:
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