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According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?
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According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?
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Mar 13, 2018
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According to one web page on the resale value of cars, a BMW that cost $71,000 in 2003 depreciates in value about 15% a year. How much was it worth in 2013?
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71,000 *(1-0.15)^10 =
71,000*0.85^10 =
$13,978.08
Abhishek Dasgupta
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Mar 17, 2018
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Abhishek Dasgupta
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