Answer:
To find the car's worth each year after depreciation, you can use the formula for exponential decay:
Car Worth = Initial Value × (1−Rate of Depreciation) Number of Years
In this case, Chunk's car is worth $19,000 initially, and it depreciates at a rate of 10% per year, which is equivalent to a decay factor of 0.90 (1 - 0.10). Chunk is interested in the car's worth for 5 years, so the formula becomes:
Car Worth = 19000 × (0.90)⁵
Now, you can calculate this value:
Car Worth≈ 19000 × 0.59049
Car Worth ≈ 11219.41
Rounding to the nearest dollar, Chunk's car will be worth approximately $11,219 after 5 years of depreciation.
Step-by-step explanation:
