A new car costs $45,650. It is expected to depreciate by 7% each year. Find the value of the car in 5 years. September 5, 2021 by Kim Cúc A new car costs $45,650. It is expected to depreciate by 7% each year. Find the value of the car in 5 years.
$29,672.5
7% x 5 = 35%
35% of $45,650 is $15,977.5
$45,650 – $15,977.5 = $29,672.5