A car deceased in value by 25% in the first year. purchased for $28,000, what is the car worth today.

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asked Apr 6, 2018 207k views

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Jsonmurphy · Answer 1 · 2018-04-13T16:15:21+0000

Try this: Principal times (1+interest rate as a decimal fraction)^(number of yrs)

In this case, Principal = $28,000; interest rate = -0.25; # of years = 1

So Decrease in value = $28,000 (0.75)^1 = $21,000.

A car deceased in value by 25% in the first year. purchased for $28,000, what is the car worth today.

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