A new car costs $45,650. It is expected to depreciate by 7% each year. Find the value of the car in 5 years.

Question

A new car costs $45,650. It is expected to depreciate by 7% each year. Find the value of the car in 5 years.

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Kim Cúc 3 years 2021-09-05T16:40:27+00:00 1 Answers 3 views 0

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    2021-09-05T16:42:09+00:00

    $29,672.5

    7% x 5 = 35%
    35% of $45,650 is $15,977.5
    $45,650 – $15,977.5 = $29,672.5

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