Question

In the year 2010, a person bought a new car for $29000. For each consecutive year

after that, the value of the car depreciated by 8%. How much would the car be worth
in the year 2013, to the nearest hundred dollars?

Answer 1

$23,600

Explanation:

The car would be worth approximately $23,600 in the year 2013.

To find the value of the car in the year 2013, we need to find the total depreciation that occurred over the three years between 2010 and 2013. Since the value of the car depreciates by 8% per year, the total depreciation over three years would be 3 * 8% = 24%.

To find the value of the car in 2013, we can multiply the original value of $29,000 by (1 - 24%), which gives us a value of approximately $22,080. Rounding this value to the nearest hundred dollars gives us $23,600.

I hope this helps! Let me know if you have any other questions or need further assistance.

Answer 2

I’m not sure, but I believe the answer is 26,680