Answer:
Around $4,368
Step-by-step explanation:
The initial cost is $11,800.
Each year, the new value will be 22% less than the previous year. Meaning that for each year that passes, the initial value will be multiplied by 0.78:
22% = 0.22
1 - 0.22 = 0.78
The value of the car after 4 years can thus be expressed as:
[tex]11800 * 0.78 * 0.78 * 0.78 * 0.78[/tex]
Or:
[tex]11800 * 0.78^4[/tex]
[tex]11800 * 0.78^4 \approx 4368[/tex]
Answer: around $4,368
