Question

Rick bought a car for $17,500. Each year, the car's value decreases by 20%. At this rate, what can Rick expect the value of his car to be in 6 years? *

$1.12
$15,502.24
$4,587.52
$17,380.00

Answer 1

His car would be worth $15,502.24

Explanation:

20% of 17,500 is 350. 350 x 6 = 2,100. 17,500 - 2,100 = 15,400. But that is not an answer choice so be go to the closest number which is $15,502.24