Question

A new 2018 Honda Accord was valued at $25,000. Itdeprecistes at a rate of 13% a year what is the value in 2034

Answer 1

Therefore the value of Honda Accord in 2034 is $2,693.07

Step-by-step explanation:

Given a new 2018 Honda Accord was valued at$ 25,000. It depreciates at a rate of 13%a year.

Time (n) = 16 year ,   P =$25,000 and r = 13%

Amount      $A = P(1-\frac{r}{100} )^n$

                         =$  $25,000(1-\frac{13}{100})^{16}$

                         =$$2,693.07$

Therefore the value of Honda Accord in 2034 is $2,693.07