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Tonya buys a car for $23,000. The value of the car decreases at a rate of 3% per year. How much will the car be worth in 5 years?

Tonya buys a car for $23,000. The value of the car decreases at a rate of 3% per year. How much will the car be worth in 5 years?
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Tonya buys a car for $23,000. The value of the car decreases at a rate of 3% per year. How much will the car be worth in 5 years?

User Jelle De Loecker
by
8.6k points

1 Answer

3 votes
at the end of the year its value will be=97% of original value
value in five years=(0.97*0.97*0.97*0.97*0.97)23000
=19750 dollars
User Persixty
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9.6k points
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