Question 37116
Hello!
In order to solve this, we only need to apply the formula you supplied. In your formula:

y = Value of depreciated asset (unknown)
c = Initial value of asset ( = $31,200)
r = Depreciation Rate ( = 6.9% = 0.069)
t = Number of years of depreciation

So we apply it:

{{{y = 31200(1 - 0.069)^5 = 21822.42}}}

SO the value of the car after 5 years is $21,822.42


I hope this helps!
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