The resale value of the car after four years is $4820
How to determine the resale value?
The given parameters are:
initial value, a = $27,000
Rate, r = 35%
The value of the car each year is represented as:
Value = a *(1 - r)^t
So, we have:
Value = 27000 *(1 - 35%)^t
After four years, we have:
Value = 27000 *(1 - 35%)^4
Evaluate
Value = 4820
Hence, the resale value of the car after four years is $4820
Read more about exponential functions at:
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