On january 1, 2010, lucita bought a car for $25,000. if the car depreciates at a rate of 15% per year, which equation can find the value of the car on december 31, 2017?

Equation that can find the value of the car on December 31, 2017 is:

A= 25000*(1-0.15)^7 and the value of car after 7 years is $8014.427.

Step-by-step explanation:

Price of car = $ 25,000

Rate of depreciation = 15 %

Formula used:

A= P(1-r)^n

where p= price of car

A= new price of car after depreciation

r = rate of depreciation i.e. 15/100 = 0.15

n= time in years 2017 - 2010 = 7 years

Putting values in formula:

A= 25000*(1-0.15)^7

A= 25000*(0.85)^7

A= $8014.427

So, Equation that can find the value of the car on December 31, 2017 is:

A= 25000*(1-0.15)^7 and the value of car after 7 years is $8014.427.

step-by-step explanation:

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