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The original value of a car is $15,000 and it depreciates (loses value) by 20% each year. What is the value of the car after three years?

The original value of a car is $15,000 and it depreciates (loses value) by 20% each year. What is the value of the car after three years?
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The original value of a car is $15,000 and it depreciates (loses value) by 20% each year. What is the value of the car after three years?

User Thellimist
by
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1 Answer

2 votes
$15,000 * 0.8 = $12,000
$12,000 * 0.8 = $9,600
$9,600 * .08 = $7,680
User Mischa Kroon
by
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