help me with this question please!! fast!

Accepted Solution

Answer:Part a) The equation that represent the depreciation is [tex]y=18,000(0.88)^{x}[/tex]  Part b) The value of the car in 8 years is [tex]\$6,473.42[/tex]  Step-by-step explanation:Part a) we know that The  formula to calculate the depreciated value  is equal to   [tex]y=P(1-r)^{x}[/tex]  where   y is the depreciated value   P is the original value   r is the rate of depreciation  in decimal  x  is Number of Time Periods   in this problem we have   [tex]P=\$18,000\\r=12\%=0.12[/tex] substitute in the formula[tex]y=18,000(1-0.12)^{x}[/tex]  [tex]y=18,000(0.88)^{x}[/tex]  ------> equation that represent the depreciationPart b) Find the value of the car in 8 yearsSubstitute the value of [tex]x=8\ years[/tex] in the equation and solve for y[tex]y=18,000(0.88)^{8}=\$6,473.42[/tex]