Question

Can someone help me please

A vehicle purchased for $ 20700 depreciates at a rate of 7 % per year.
Determine the approximate value of the vehicle 13 years after purchase.
Round to the nearest whole number. ------------------

Answer 1

Explanation:

7% loss each year means 93 % remains

93% = .93 in decimal

For 13 years :

20 700 ( .93)^13 = $ 8058.40