The general equation for depreciation is given by y = a(1 – r)t, where y = current value, a = original cost, r = rate of depreciation, and t = time, in years. a car was purchased 6 years ago for $25,000. if the annual depreciation rate is 11%, which equation can be used to determine the approximate current value of the car?
a. y=25,000(.89)^6
b. y=(25,000 x .11)^6
c. y=(25,000 x .89)^6
d. y=25,000(.11)^6

note: the 'x' is a multiplication symbol