Question

diondre purchased a car for $22000. assuming the value of the car depreciates at a rate of 6% per year, approximately what will be the value of the car after 6 years

Answer 1

What is 22,000(.94)^6 ??

Answer 2

$15, 177

Answer 3

[AI-generated answer — Explain Bot]

To find the approximate value of the car after 6 years, we need to calculate the depreciation each year and subtract it from the original value.

Step 1: Calculate the annual depreciation.
Since the car depreciates at a rate of 6% per year, we can find the annual depreciation amount by multiplying the original value of the car by 6%.
Annual depreciation = $22000 * 0.06 = $1320

Step 2: Calculate the value after 6 years.
To find the value of the car after 6 years, we need to subtract the total depreciation from the original value.
Total depreciation after 6 years = $1320 * 6 = $7920
Value of the car after 6 years = $22000 - $7920 = $14080

Therefore, the approximate value of the car after 6 years will be approximately $14,080.