The value of a car is $30,000. It loses 6.5% of its value each year. What will the value of the car be after 5 years?

Question

asked Jul 9, 2021 89.0k views

1 Answer

David Harris · Answer 1 · 2021-07-14T01:02:12+0000

Decay equation= P*(1-r)^t
P= Principal amount= $30,000
r= rate=0.065
t= time (in years) =5
x=30,000(1-0.065)^5
The value of the car in 5 years is approx. $21,438

The value of a car is $30,000. It loses 6.5% of its value each year. What will the value of the car be after 5 years?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions