You buy a car for $8000 that depreciates (loses value) at a rate of 11% a year. How much is the care
1 answer:
Answer:
$3600
Step-by-step explanation:
Cost of the car = $8000
The car loses value at 11% each year .
That’s
11% /100% x $8000
0.11 x 8000
$880
11% decrease each year means that the cost of the car is reduced by $880 per year.
Therefore,
Worth of the car in 5 years
= $8000 - ($880 x 5)
= $8000 - $4400
= $3600
The car will be worth $3600 in five years
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