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Today a car is valued at $42000. The value is expected to decrease at a rate of 8% each year. What is the value of the car expected to be 6 years from now?
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Today a car is valued at $42000. The value is expected to decrease at a rate of 8% each year. What is the value of the car expected to be 6 years from now?

User Dima Malenko
by
8.2k points

1 Answer

2 votes
The formula is
A=p (1-r)^t
A future value?
P current value 42000
R rate of decreases 0.08
T time 6 years
A=42,000×(1−0.08)^(6)
A=42000 (0.92)^6
A=25,466.91 round your answer to get 25467

Hope it helps!
User Lecsox
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