Answer:
$24,001.2
Step-by-step explanation:
Since it depreciates in value by 9% a year, each year you only have
100% - 9% = 91% of the previous year value.
In this type of problems the best thing is to write an equation:
[tex]value=OriginalValue*(percentageLeft)^{time}[/tex]
thus, in this case our original value is $35,000
the percentage we have left for the value of the car each year is the 91% (because it depreciates 9%) which we can represent as 0.91, so we have the following equation to calculate the value of the car:
[tex]value=35,000(0.91)^t[/tex]
where t is the time in years.
Thus, in 4 years:
[tex]value=35,000(0.91)^{4}\\value=35,000(0.6867)\\value=24,001.2[/tex]
the value in 4 years will be $24,001.2
