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Mr. Keller bought a car for $20,000. A study shows that a car will depreciate (go DOWN in value) by 15% each year. How much is Mr. Keller’s car worth after 5 years? A) Formula u…

Mr. Keller bought a car for $20,000. A study shows that a car will depreciate (go DOWN in value) by 15% each year. How much is Mr. Keller’s car worth after 5 years? A) Formula u…
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Mr. Keller bought a car for $20,000. A study shows that a car will depreciate (go DOWN in value) by 15% each year. How much is Mr. Keller’s car worth after 5 years?

A) Formula used:
B)Substitute values:
C) Final answer
D) Does this final answer make sense compared to the original cost of the car? Why?
E) DESCRIBE (using a complete sentence or two) how you can solve this problem graphically.
Please answer all

User Tarantoga
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1 Answer

6 votes
Average annual value lost: $7,390.65First-year depreciation: $3,000.00Total depreciation: $11,125.89Total depreciation percentage: 55.63%Value of vehicle at end of ownership period: $8,874.11
see attachment for graph


Mr. Keller bought a car for $20,000. A study shows that a car will depreciate (go-example-1
User Prateeknischal
by
8.5k points
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