The price of the car after 10 years is $7524.25 if the new car costs $34,000 and its value depreciates at 14% of its value each year.
An equation is an expression that shows the relationship between two or more variables and numbers.
Let y represent the value of the car after x years. A new car costs $34,000 and its value depreciates at 14% of its value each year. Hence:
y = 34000(0.86)ˣ
After 10 years:
y = 34000(0.86)¹⁰ = 7524.25
The price of the car after 10 years is $7524.25 if the new car costs $34,000 and its value depreciates at 14% of its value each year.
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