Suppose the value of a car depreciates 8% every year. to the nearest dollar, what will a car that cost $23,995 be worth after 5 years? (remember, the formula is a = p(1 + r)t.)

The car will worth $15815 after 5 years.

Step-by-step explanation:

The formula is:    , where P = Initial cost, A = Final cost,  r = Rate of change in cost per year and  t = Number of years.

Here,

and

As here the value of the car depreciates every year, so we need to plug the value of as negative. So,

Now plugging the above values into the formula, we will get.....

(Rounded to the nearest dollar)

So, the car will worth $15815 after 5 years.

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