Question

jane Marko buys a car for $11.400.00 In three years , the car depreciates 48% in value .How much is the car worth in three year.

Answer 1

A=P(1-r)^n

where A= ?

P= $11,400

r=48%

n=3

1-r=0.52

A=11,400(0.52)^3

= $1602.93