In the year 2006, a person bought a new car for $24000. For each consecutive year after that, the value of the car depreciated b
y 10%. How much would the car be worth in the year 2010, to the nearest hundred dollars?
1 answer:
Answer:
$15,746.400
Step-by-step explanation:
The computation of the car value in the year 2010 is shown below:
Since the new car brought in the year of 2006 at $24,000
And, it would be depreciation by 10%
So, in the year 2010 the car value would be
= $24,000 × (1 - 0.10)^4
= $24,000 × 0.9^4
= $15,746.400
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