After n years,
v = c(1-r)^n = 20000 * 0.79^n
no need to subtract from anything, unless you want to see how much its value has declined.
6154.11 is the value after 5 years.
You buy a used car for $20,000. It depreciates at the rate of 21% per year. Find the value of the car for the given years (5 and 8)
I'm using the equation v=c(1-r), and i end up getting 6154.11 ; im not sure if i subtract that from 20,000 or if that is my answer
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