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

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

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`