Question

7. As you consider your decision, you think about how most cars lose value over time. If a fully loaded Volkswagen Beetle depreciates at a rate of 15%, calculate the value of the car after 10 years if it is currently valued at $30,000. (Car Depreciation Formula: V=I(1−r)t where "V" is the value of the car after "t" years, "I" is the current value, "r" is the rate of depreciation). Round to

Answer 1

11,949.9126..... by my calculator.