One model for car depreciation is as follows, where C is the original cost, V is the value of the car after t years, and r is the rate of depreciation.

V = C(1 - r)t

If the original cost of the car was $24,000 and the rate of depreciation is 20%, what will be the value of the car after 7 years? [Round to the nearest dollar.]
A. $4,800
B. $5,033
C. $19,200
D. $20,835

Question

One model for car depreciation is as follows, where C is the original cost, V is the value of the car after t years, and r is the rate of depreciation.

V = C(1 - r)t

If the original cost of the car was $24,000 and the rate of depreciation is 20%, what will be the value of the car after 7 years? [Round to the nearest dollar.]
	A.  	$4,800
	B.  	$5,033
	C.  	$19,200
	D.  	$20,835

muzzack · Answer

D

anonymous · Answer

C=24000
r=0.2
t=7
$$V=24000(1-0.2)^{7}$$