Question

Alex purchased a new car for $28,000. The car's value depreciates 7.25% each year. What will be the value of the car 5 years after it is purchased? Round your answer to the nearest dollar.

Answer 1

$19,219

This is the right answer for this question.

Answer 2

so if we multiple the rate (7.25) by 5, we get 36.25
100 - 36.25 is 73.75
73.75% of 28000 is $20650
sorry if it's wrong, I didn't use paper to calculate