Question

A new car is purchased for 17600 dollars. The value of the car depreciates at 11.75% per year. What will the value of the car be, to the nearest cent, after 11 years?

Answer 1

Answer:

The value of the car will be $\ 4,450.15$

Step-by-step explanation:

we know that

$11.75\%=11.75/100=0.1175$

so

Let

x-----> the value of the car after 11 years

$x=\ 17,600(1-0.1175)^{11} =\ 4,450.15$