Respuesta :
To solve the problem we need to know about depreciation.
Formula of Depreciation
The formula of depreciation is given as,
[tex]A = P(1-r)^t[/tex]
where,
A is the value of an object after t years of time,
P is the value of the object at the beginning, and
r is the rate of depreciation.
The value of the car after 11 years is $4,603.81.
Explanation
Given to us
- Cost of Car at the beginning, p = $20,000
- Rate of depreciation, r = 12.5%
- Time, t = 11 years
Value of the car after 11 years
Substituting the values in the formula of depreciation,
[tex]A = P(1-r)^t[/tex]
Value of the car after 11 years = [tex]P(1-r)^n[/tex]
[tex]= \$20,000(1-0.125)^{11}\\\\ = \$20,000\times 0.23\\\\ = \$4,603.822 \approx \$4,603.81[/tex]
Hence, the value of the car after 11 years is $4,603.81.
Learn more about Depreciation:
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