Answer:
$9,491.66
Step-by-step explanation:
Original price of car = $20,000
Rate of depreciation = 17%
Convert this to a percent = 17/100 = 0.17
The depreciation on the car after 1 year = 17% of 20,000
= 0.17 x $20,000
The value of the car after 1 year
= Cost - depreciation
= 20,000 - 0.17 x 20,000
= 20,000(1 - 0.17)
= 20,000(0.83)
After 2 years the value will be
20,000(0.83)(0.83 = 20,000 * (0.83)²
After 4 years value of car
= 20,000(0.83)⁴
= $9,491.66
