Question

In the year 2007, a person bought a new car for $16000. For each consecutive year after that, the value of the car depreciated by 5%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

Answer 1

The car would be worth $13,000 in the year 2011.

Step-by-step explanation:

To calculate the value of the car in the year 2011, we need to find the depreciated value of the car each year from 2007 to 2011. The value of the car depreciates by 5% each year, which means it retains 95% of its value each year. Here are the calculations:

1. Year 2007: $16,000
2. Year 2008: $16,000 x 0.95 = $15,200
3. Year 2009: $15,200 x 0.95 = $14,440
4. Year 2010: $14,440 x 0.95 = $13,718
5. Year 2011: $13,718 x 0.95 = $13,032

Therefore, in the year 2011, the car would be worth $13,000 to the nearest hundred dollars.

Answer 2

Step-by-step explanation:

this is the answer which i got