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2. A Brand New 2024 Toyota Tundra Starts at a MSRP of 71,537.00 Toyota Have an Average Annual Depreciation Rate of 2.0465% What Is the

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2. A brand new 2024 Toyota Tundra starts at a MSRP of 71,537.00 Toyota have an average annual depreciation rate of 2.0465% What is the value of the truck at the end of a six year loan? Round to the nearest penny.

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To calculate the value of the 2024 Toyota Tundra at the end of a six-year loan, we need to use the formula for exponential decay: Where:- is the final value- is the initial value (MSRP)- is the annual depreciation rate (as a decimal)- is the number of yearsGiven:- - Now, plug these values into the formula: First, calculate : Next, raise this to the power of 6: Finally, multiply by the initial value: So, the value of the truck at the end of a six-year loan is approximately \$65,073.57.