Question

You purchase a car for $16,000. The car's value depreciates 12% for each year of ownership. After how many years of ownership is the value of the car about $14,000?
A) 1 year
B) 2 years
C) 3 years
D) 4 years

Answer 1

After 1 year the cars worth would be about 14000 so the answer would be A