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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asked Oct 18, 2019 191k views

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Xiaoyu Yu · Answer 1 · 2019-10-23T13:00:26+0000

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

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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