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

User Mizuki Nakeshu
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2 Answers

5 votes

Answer:

The answer rounded is 14000

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User Polity
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7.2k points
6 votes
Hello!

The depreciated value is given by
.. v(t) = $25,000*0.92^t . . . . . t in years
Then
.. v(7) = $25,000*0.92^7 ≈ $13,946

Let me know if you have any other questions. Have a bless day!

-Rose
User Nbwoodward
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