Question 1160623
the formula for value of a car after t years is c(t) = 27,200 * (1 - .22) ^ t
c is the value of the car.
t is the number of years.
what this formula is saying is that the car loses 22% of its value every year.
when t = 3, the formula becomes c(t) = 27,200 * (1 - .22) ^ 3 = 12,907.8144.
when t = 5, the formula becomes c(t) = 27,200 * (1 - .22) ^ 5 = 7,853.114281.
after 5 years, the total depreciaton amount is 27,200 minus 7,853.114281 = 19,346.88572.