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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…

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…
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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.

asked
User Skuntsel
by
8.3k points

1 Answer

5 votes
28,000 * 0.8725^5 = 14157.4556395.

Rounded = $14,157.
answered
User Jschools
by
8.4k points
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