The original value of a car is $18,000, and it depreciates (loses value) by 15% each year. What is the value of the car after th

Question

Doss [256]

3 years ago

15

The original value of a car is $18,000, and it depreciates (loses value) by 15% each year. What is the value of the car after th

ree years?

Mathematics

1 answer:

Sliva [168] · Answer 1 · 2022-07-16T04:04:14+03:00

Sliva [168]3 years ago

6 0

A reduction of 15% per year means 100-15=85% reducing factor.
1st year: 0.85×18000=$15300.
2nd year: 0.85×15300=$13005.
3rd year: 0.85×13005=$11054.25.
So after 3 years the value of the car is $11054.25 or $11054 to the nearest dollar.