YOO ! DID I DO THIS RIGHT ?

F(t) = P * (r)^d

F(5) = 21,450 * (100 − 3.7 / 100)⁵

F(5) = 21,450 * (0.963)⁵

F(5) = 21,450 * 0.828193

[ F(5) ≈ $17,764.73 ]

Tyler bought a car that depreciates 3.7% each year. If Tyler purchased the car for $21,450 five years ago, what is the value of the car now?

Question

YOO ! DID I DO THIS RIGHT ?

F(t) = P * (r)^d

F(5) = 21,450 * (100 − 3.7 / 100)⁵

F(5) = 21,450 * (0.963)⁵

F(5) = 21,450 * 0.828193

[ F(5) ≈ $17,764.73 ]

Tyler bought a car that depreciates 3.7% each year. If Tyler purchased the car for $21,450 five years ago, what is the value of the car now?

anonymous · Answer

$21450\times (.963)^5$ whatever that is