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What is the value, after 7 years, of a 2014 Ford Mustang that originally cost $25,000.00 if the depreciate at a rate of 8% per year? Round your answer to the nearest dollar.
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What is the value, after 7 years, of a 2014 Ford Mustang that originally cost $25,000.00 if the depreciate at a rate of 8% per year? Round your answer to the nearest dollar.

User JANVI
by
4.7k points

2 Answers

3 votes

The answer would be 14000

User Camille Goudeseune
by
4.8k points
3 votes

Answer:

$14,236

Explanation:

25000 x 0.92 = 23000 = 1 Year

23000 x 0.92 = 21600 = 2 Years

19872

18282.24

16819.66

15474.09

14236 = 7 Years

User Adbarads
by
5.6k points
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