Question

You bought a car 3 years ago for $12000. If its value decreases by 17% each year, how much is your car worth now?

Answer 1

Answer: $‭6,861.44

Explanation:

Car was bought 3 years ago for $12,000.

Value decreases by 17% every year.

Current value is:

= 12,000 * (1 - 17%)³

= $‭6,861.44