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You bought a new car 4 years ago for $20,000 and it depreciates at a rate of 10% per year. What is the value of the car now?

You bought a new car 4 years ago for $20,000 and it depreciates at a rate of 10% per year. What is the value of the car now?
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4 votes
You bought a new car 4 years ago for $20,000 and it depreciates at a rate of 10% per year. What is the value of the car now?

User Aevitas
by
8.6k points

2 Answers

1 vote
1312 I think Iā€™m not sure try google
User Allcaps
by
8.0k points
6 votes
Do 100%-10%=90%
.9^4(20,000)
and that should be the answer.
I got 1312.2
User Iyesha
by
8.1k points
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