Question

The original value of the car is $18,000 it depreciates by 15% every year what is the value of the car after three years

Answer 1

The formula is
A=p (1-r)^t
A the value of the car after 3 years ?
P current value 18000
R rate of depreciation 0.15
T time 3 years
A=18,000×(1−0.15)^(3)
A=11,054.25