Question

Alex purchased a new car for 28,000 value depreciates 7.25% each year what will be the value of the car five years after it is purchased

Answer 1

Answer:it’s 19218.9 but rounded its 19219

Explanation:

Answer 2

A=p (1-r)^t
A future value?
P present value 28000
R rate of depreciation 0.0725
T time 5 years

A=28,000×(1−0.0725)^(5)
A=19,218.9 round 19219