Question

A national study found that a car's value decreases by 15 percent annually. If the car was purchased for $66,000, how much will the car be worth in 10 years? A. $12,993.71 B. $11,768.35 C. $18,429.50 D. $13,792.14

Answer 1

A. $12,993.71

Explanation:

Each year, the car's value is multiplied by 1-0.15 = 0.85. After 10 years, the car's value will be ...

$66,000×0.85^10 ≈ $12,993.71