Question

A new car is purchased for 17900 dollars. The value of the car depreciates at 12.25%

Answer 1

Answer:

Therefore the value of the car after 10 year will be = $4,845.34

Step-by-step explanation:

A new car is purchased for $17900. the value of the car depreciates at 12.25% per year.

Since the value of the car depreciates therefore the amount of the car is

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

    $=17900(1-\frac{12.25}{100})^{10}$                [  p = $17900, r = 12.25% and n =10 years]

    = $ 4,845.34

Therefore the value of the car after 10 year will be = $4,845.34