The value after 6 years = $1937.41
Explanation:
2b) Cost of the car = $23427
It decreases = 34%
The actual amount remaining in terms of percentage = 100% - 34% = 66%
The future value = cost of car × (66%)^time
let t = time
[tex]\text{The model: future value = }23427\times(0.66)^t[/tex]
when t = 6 years
[tex]\text{The future value = 23427}\times\text{(0.66)}^6[/tex][tex]\begin{gathered} \text{The future value = 23427}\times0.0827 \\ \text{the future value = \$1937.41} \end{gathered}[/tex]
The value after 6 years = $1937.41
