Suppose you buy a car with a value of $10,750. Each year, the value of your car will depreciate by 5.9%. How much will your car be worth in 10 years?A. $19,070.76B. $6,504.50C. $7,074.39D. $5,852.01The population of a town is 17,724 people. Each year, the population increases by 2%. What will the town's population be in 19 years? Round your answer to the nearest whole number.A. 25,821B. 566,246C. 12,074D. 50, 274
Accepted Solution
A:
I will get you started.
Car Problem:
10,750(0.059) = 634.25
Year 1:
10,750 - 634.25 = 10,115.75
The price of the car after year one at 0.059 is $10,115.75.
Continue the same pattern for the remaining 9 years.
Population Problem:
17, 724(0.02) = 354.48
For Year 1:
17,724 + 354.48 = 18,078.48
Continue the same pattern for the remaining 18 years. Use your calculator.