Alex purchased a new car for $28,000. The car's value depreciates 7.25% each year. What will be the value of the car 5 years aft
er it is purchased? Round your answer to the nearest dollar.
2 answers:
7.25/100 = 0.0725 => 0.0725 × 28,000 = 2,030$
2030 × 5 = 10,150$ => 28,000 + 10,150 = 38,150$
28,000x0.0725=2030 per year, so 2030x5= 10,150
then, 28,000-10150= 17,850
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