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According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?

According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?
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2 votes
According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?

asked
User Jayla
by
8.3k points

1 Answer

1 vote

71,000 *(1-0.15)^10 =

71,000*0.85^10 =

$13,978.08

answered
User Abhishek Dasgupta
by
7.8k points
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