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Sam bought a new car for $26,500. The car depreciates approximately 13% of its value each yeah. what is the approximate value of the car in 10 years?
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Sam bought a new car for $26,500. The car depreciates approximately 13% of its value each yeah. what is the approximate value of the car in 10 years?

User Organis
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1 Answer

5 votes
Original value = $26,500
Yearly depreciation rate = 13% = 0.13

In 10 years, the value will be
26500*(1 - 0.13)¹⁰ = 6583.22

Answer: $6,583 (approximately)
User Heron Rossi
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