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Chris buys a car for $24,000. If the car loses value at a rate of 9% per year, what will it be worth in 5 years? Round to the nearest dollar.

Chris buys a car for $24,000. If the car loses value at a rate of 9% per year, what will it be worth in 5 years? Round to the nearest dollar.
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4 votes
Chris buys a car for $24,000. If the car loses value at a rate of 9% per year, what will it be worth in 5 years? Round to the nearest dollar.

User Lenn
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8.3k points

1 Answer

4 votes
A=p(1-r)^n
A=24,000×(1−0.09)^(5)
A=14,976.77
User Prikers
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7.7k points
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