Question

A bike has a depreciation value of $56 per year. If it was originally bought for $800, find the value of the bike after 4 years.

Answer 1

\[$576\]

Answer 2

Value, V = original cost - depreciation in $ per year for t number of years
V = -56(t) + 800
after 4 years means t = 4
depreciation is 4(56) = 224
Value = 800 - 224 = 576

Answer 3

thanks for explaining it!