Original price = P = $12,698
Depreciation rate = r = 11% = 0.11
Time in years = t = 3
New price = A
The formula used will be:
[tex]A=P(1-r)^{t} [/tex]
Using the values, we get:
[tex]A=12698(1-0.11)^{3}=8951.70 [/tex]
Thus, the worth of Suzuki after 3 years will be $8951.70
