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A car with an initial value of $23,000 is decreasing in value at a rate of 8% each year. At this rate, approximately what will the value of the car be in 3 years?

A car with an initial value of $23,000 is decreasing in value at a rate of 8% each year. At this rate, approximately what will the value of the car be in 3 years?
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A car with an initial value of $23,000 is decreasing in value at a rate of 8% each year. At this rate, approximately what will the value of the car be in 3 years?

User Sorceri
by
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1 Answer

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$23000×8% = 1840
1840 × 3 = 5520
$23000 - $5520 = $17480 after 3 years
User Sandy Sanap
by
7.8k points
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