Answer: $4,467.2
Step-by-step explanation:
The formula for this is A = P (1 - r) ^t
Where p is the Principal, r is the rate and t= time
Given from the question, p = $8000
rate= 11% = 11/100 = 0.11
Time = 5 years
Slot the values into the formula:
A= 8000 (1 - 0.11) ^5
= 8000 (0.89)^5
8000 × 0.5584
=$4,467.2
After 5 years, the worth of the car would have depreciated to $4,467.2
I hope this helps.
