Mathematics, 10.04.2020 18:46 and7735

Olivia purchased a car worth $18,000 in the year 2001. It loses its value by 6% per year. What is the value of the car in 2004? Round to the nearest cent.

Answers: 2

Show answers

Answers

The value of car in 2004 is $14951, if Olivia purchased a car worth $18,000 in the year 2001 and it loses its value by 6% per year.

Step-by-step explanation:

The given is,

Car worth $18,000 in the year 2001

Loses its value by 6% per year

Step:1

Formula to calculate the worth of car with loss rate,

$y = A(1-r)^{t}$ .....................................(1)

Where, y = Value of car after t period

A = Initial value of car

r = Loss rate

t = Time period

From give,

A = $18,000

r = 6 % per year

t = 3 years

Equation (1) becomes,

$y = 18000(1-0.06)^{3}$

$=18000(0.94)^{3}$

= (18000 × 0.830584)

= 14950.512

≅ 14951

Value of car in 2004, y = $14951

( or )

Step:1

t = 3 years ( 2001 to 2004 )

For 1st year,

= ( Worth of car in previous year ) -

( Worth of car in previous year × Loss rate )

= ( 18000 ) - ( 18000 × 0.06 )

= 18000 - 1080

= $16920

For 2nd year,

= ( 16920 ) - ( 16920 × 0.06 )

= 16920 -1015.2

= $15904.8

For 3rd year,

= ( 15904.8 ) - ( 15904.8 × 0.06 )

= 15904.8 - 954.288

= 14950.512

≅ $14951

Result:

The value of car in 2004 is $14951, if Olivia purchased a car worth $18,000 in the year 2001 and it loses its value by 6% per year.

Answer from: Quest

$12. that is my answer.

Answer from: Quest

i think it is 18

step-by-step explanation:

If y varies directly as x, and y is 180b when x is n when x is 5, what is the value of n?

Another question on Mathematics

Mathematics, 21.06.2019 15:00

The sixth grade art students are making a mosaic using tiles in the shape of right triangles.each tile has leg measures of 3 centimeters and 5 centimeters.i f there are 200 tiles in the mosaic what is the area of the mosaic.

Answers: 1

Answer

Mathematics, 21.06.2019 17:00

27 is what percent of 108? 27 is % of 108

Answers: 2

Answer

Mathematics, 21.06.2019 19:30

At the beginning of 1974/75,2 years a man invested #2000 in a bank at 12.5% compound interest, if it degree #650 at the end of each two years to pay his son's school fees, after payment of interest to pay his son's school fees, how much did he have left at the beginning of the 1978/79 school year?

Answers: 3

Answer

Mathematics, 21.06.2019 23:30

Scenario: a rectangular plot of ground is 5 meters longer than it is wide. its area is 20,000 square meters. question: what equation will you find the dimensions? note: let w represent the width. options: w(w+5)=20,000 w^2=20,000+5 (w(w+5))/2=20,000 w+2(w+5)=20,000

Answers: 1

Answer

You know the right answer?

Olivia purchased a car worth $18,000 in the year 2001. It loses its value by 6% per year. What is th...

Questions