Question

a new car is purchased for 207000 dollars. the value of the car depreciates at 11% per year. what will the value of the car be, to the nearest cent, after 11 years?

Answer 1

Depreciation of 11% per year means that the price is multiplied by 89% (0.89) every year. Do this 11 times or use exponents

Final price:
207000*(0.89^11) = 57446.083