Sam bought a new car for $26,500. The car depreciates approximately 13% of its value each yeah. what is the approximate value of the car in 10 years?

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asked Jun 15, 2018 192k views

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Heron Rossi · Answer 1 · 2018-06-19T11:26:11+0000

Original value = $26,500
Yearly depreciation rate = 13% = 0.13

In 10 years, the value will be
26500*(1 - 0.13)¹⁰ = 6583.22

Answer: $6,583 (approximately)

Sam bought a new car for $26,500. The car depreciates approximately 13% of its value each yeah. what is the approximate value of the car in 10 years?

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