Question

You bought a new car for $18,500. The

value of the car depreciates 4.6% annually.
How much will your car be worth in 5
years? (HINT: How many decimal places
are in money?)

Answer 1

14,245

Explanation:

First you find 4.6% of 18,500 which is 851. Then you multiply 851 by the years, which is 5, and you get 4255. Lastly just subtract 4255 from 18500.