Question

A new truck that sells for $29,000 depreciates 12% each year. Write a function that models the value of the truck. Find the value of the truck after 7yrs.

Answer 1

Depreciation formula is :
\[V=P(1-R)^{n}\]

where V= future value, P= present value, R= depreciation rate, and n= # of years.

Answer 2

v=29000(1-0.12)^4

its that correct ?

Answer 3

it should be ^7 since it's 7 years

Answer 4

oh yeahh lol my bad i accidentally pressed 4 .

thank youu !!!

Answer 5

No problem :)