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Find the value of a 10 year old car if the purchase price was 25000 and it depreciates at a rate of 15% per year

Find the value of a 10 year old car if the purchase price was 25000 and it depreciates at a rate of 15% per year
asked 215k views
2 votes
find the value of a 10 year old car if the purchase price was 25000 and it depreciates at a rate of 15% per year

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User Nate Bird
by
8.3k points

1 Answer

4 votes

Answer:

Explanation:

value of car=25,000(1-0.15)^{10}

=25,000(0.85)^{10}

≈ 4921.86 $

answered
User Alex Wayne
by
8.2k points
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