You buy a new Chevy Camaro for $32,820 in 2014. This car will depreciate (decrease in value) by an average of 7% per year. Predict what the value of this truck will be in the years 2017, 2019, 2021, 2024, and 2029.
2 answers
Question:
You buy a new Chevy Camaro for $32,820 in 2014. This car will depreciate (decrease in value) by an average of 7% per year. Predict what the value of this truck will be in the years 2017, 2019, 2021, 2024, and 2029.
Answers
Answer:$26398.997$22,832.492$19,747.822$15884.299$11050.522Step-by-step explanation:Given the following:Purchase price (P)= $32,820Average depreciation rate per year (r) = 7% = 0.07Purchase year= 2014Price in 2017:t = 3Value(V) = P(1 - r)^tV = 32820(1-0.07)^3 V = 32820(0.93)^3 = $26398.997Price in 2019:t = 5Value(V) = P(1 - r)^tV = 32820(1-0.07)^5V = 32820(0.93)^5 = $22,832.492Price in 2021:t = 7Value(V) = P(1 - r)^tV = 32820(1-0.07)^7V = 32820(0.93)^7 =$19,747.822Price in 2024:t = 10Value(V) = P(1 - r)^tV = 32820(1-0.07)^10V = 32820(0.93)^10 = $15884.299Price in 2019:t = 15Value(V) = P(1 - r)^tV = 32820(1-0.07)^15V = 32820(0.93)^15 = $11050.522
Answer:2017 = $26,3992019 = $22832.49¢2021 = $19,747.82¢2024 = $15,884.30¢2029 = $11,050.52¢Step-by-step explanation:Please kindly check the attached file for explanation
Similar Solved Questions
1 answer
6x squared plus 12x plus 13 equals 2x squared plus 4
6x squared plus 12x plus 13 equals 2x squared plus 4...
2 answers
A pilot and a flight attendant get married and leave for their honeymoon on an airplane. Well meaning friends pack the plane with balloons. As the plane gains altitude, the balloons begin to pop. Using the ideal gas law, explain why the balloons popped.
A pilot and a flight attendant get married and leave for their honeymoon on an airplane. Well meaning friends pack the plane with balloons. As the plane gains altitude, the balloons begin to pop. Using the ideal gas law, explain why the balloons popped....
1 answer
Describe two ways the material in this lesson illustrates the importance of creativity in scientific investigations.
Describe two ways the material in this lesson
illustrates the importance of creativity in scientific
investigations....
2 answers
9) Which is the best meaning for captivity as it is used in the second paragraph? A) a long journey B) a decaying portion C) freedom to move about D) confinement or slavery
9) Which is the best meaning for captivity as it is used in the second paragraph? A) a long journey B) a decaying portion C) freedom to move about D) confinement or slavery...
2 answers
Free 96 points why were slaves took from their homes
Free 96 points
why were slaves took from their homes...
2 answers
In 100 to 150 words, give your opinion on why agricultural communities settled where they did.
In 100 to 150 words, give your opinion on why agricultural communities settled where they did....
1 answer
(AHH HELP) The height of an elevator above the ground is given in the table. Interpret the meaning of the axes, scale, and origin of the corresponding graph of the data.
(AHH HELP) The height of an elevator above the ground is
given in the table. Interpret the meaning of the axes, scale, and
origin of the corresponding graph of the data....
1 answer
In the ninteenth century,why was it more nessesary for art to provide accyrate represemtations of life and objects
In the ninteenth century,why was it more nessesary for art to provide accyrate represemtations of life and objects...
1 answer
PLEASE HELP ASAP! Santiago is repeatedly encouraged to read signs and omens/ What do signs and omens have to to do with this quest ? How are they related to the “universal app language?” This is about the story “The Alchemist”
PLEASE HELP ASAP!
Santiago is repeatedly encouraged to read signs and omens/ What do signs and omens have to to do with this quest ? How are they related to the “universal app language?”
This is about the story “The Alchemist”...
2 answers
What is happening in the excerpt? Read this excerpt from "Freedom's Plow" by Langston Hughes. Labor! Out of labor came the rowboats And the sailboats and the steamboats, Came the wagons, and the coaches, Covered wagons, stage coaches, Out of labor came the factories, Came the foundries, came the railroads. Settlers are working to establish American industry. People are seeking adventure through travel. Factory owners are earning a fortune for their companies. America is progressing faster than o
What is happening in the excerpt?
Read this excerpt from "Freedom's Plow" by Langston
Hughes.
Labor! Out of labor came the rowboats
And the sailboats and the steamboats,
Came the wagons, and the coaches,
Covered wagons, stage coaches,
Out of labor came the factories,
Came the foundries, came the rai...
2 answers
General Dwight D. Eisenhower had the GREATEST impact in World War II combat in which area
General Dwight D. Eisenhower had the GREATEST impact in World War II combat in which area...
1 answer
A piece of property lies between two parallel streets as shown.m<1=(2x+6)°,and m<2=(3x+9)°.What is the relationship between the angles? What are their measures?
A piece of property lies between two parallel streets as shown.m<1=(2x+6)°,and m<2=(3x+9)°.What is the relationship between the angles? What are their measures?...
1 answer
The discussion above offers two tips for saving money. Write a paragraph, using 125 words or more, that meets the following criteria: (1) states the two tips, and (2) tells why these tips work.
The discussion above offers two tips for saving money. Write a paragraph, using 125 words or more, that meets the following criteria: (1) states the two tips, and (2) tells why these tips work....
2 answers
One theme of "About Russell" by Rita Williams-Garcia is that people cannot be forced to change. Which detail best explains how the author develops this theme over the course of the text? A)The author tells about seeing Russell as a grown-up and accepting him as is. B)The author includes anecdotes about Russell being a mathematical genius. C)The author tells of multiple attempts to help Russell that went unanswered by him. D)The author includes anecdotes about Russell having friends and a girlfri
One theme of "About Russell" by Rita Williams-Garcia is that people cannot be forced to change.
Which detail best explains how the author develops this theme over the course of the text?
A)The author tells about seeing Russell as a grown-up and accepting him as is.
B)The author includes anecdotes ab...
1 answer
Why do you think it’s important to assume that your partners in a project mean well, instead of just reacting to them in a negative way?
Why do you think it’s important to assume that your partners in a project mean well, instead of just reacting to them in a negative way?...
2 answers
The effectiveness of biofeedback has been a subject of controversy because biofeedback __________. A. has no reported side effects B. cannot be effectively tested C. has no reported negative effects D. requires uncomfortable electrodes please help
The effectiveness of biofeedback has been a subject of controversy because biofeedback __________.
A.
has no reported side effects
B.
cannot be effectively tested
C.
has no reported negative effects
D.
requires uncomfortable electrodes
please help...
2 answers
Which of the following statements comparing debit cards to credit cards is TRUE? ADebit cards allow you to draw funds directly from your checking account. BDebit cards typically offer greater fraud protection than credit cards. CDebit cards never require a signature to finalize a purchase like credit cards. DDebit cards charge higher interest rates on purchases than credit cards.
Which of the following statements comparing debit cards to credit cards is TRUE? ADebit cards allow you to draw funds directly from your checking account. BDebit cards typically offer greater fraud protection than credit cards. CDebit cards never require a signature to finalize a purchase like credi...
2 answers
What is –9.2(8x – 4) + 0.7(2 + 6.3x) simplified?
What is –9.2(8x – 4) + 0.7(2 + 6.3x) simplified?...
2 answers
The secondary or memory response: a. occurs after the primary response has activated null cells. b. provides better protection than the primary response. c. is less effective in antibody production. d. produces different antibodies than those produced in the primary immune response. e. does not protect the body after the first exposure.
The secondary or memory response:
a. occurs after the primary response has activated null cells.
b. provides better protection than the primary response.
c. is less effective in antibody production.
d. produces different antibodies than those produced in the primary immune response.
e. does not ...