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The original value of a car is 18000, and it depreciates (loses value) by 15% each year. What is the value of the car after three years?

The original value of a car is 18000, and it depreciates (loses value) by 15% each year. What is the value of the car after three years?
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The original value of a car is 18000, and it depreciates (loses value) by 15% each year. What is the value of the car after three years?

User Brandon Anzaldi
by
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1 Answer

2 votes
At the end of each year, the value is 100% -15% = 85% = 0.85 what it was at the beginning of the year. After 3 years, the value is
.. 18,000*0.85^3 = 11,054.25
User Xiaoyu Yu
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