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A car was purchased for $27,000 in 2003. If the value of the car depreciates by 6% each year, how much was the car worth in 2020?

A car was purchased for $27,000 in 2003. If the value of the car depreciates by 6% each year, how much was the car worth in 2020?
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5 votes
A car was purchased for $27,000 in 2003. If the value of the car depreciates by 6% each year, how much was the car worth in 2020?

asked
User Nivir
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8.3k points

1 Answer

4 votes

Answer:

$27,000(.94¹⁷) = about $9,431

answered
User Kshitij Marwah
by
9.0k points
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