Question

This year, Aidan's car was worth $22,000. But he accidentally backed out of his driveway and hit the mailbox, so the value of Aidan's car will decrease by 8%. What will his car be worth next year?

Answer 1

After the 8% depreciation due to the accident, Aidan's car, which was initially worth $22,000, will have a reduced value of $20,240 next year.

Step-by-step explanation:

This year, Aidan's car was worth $22,000 but will decrease in value by 8% due to an accident. To calculate the new value, you subtract 8% of the car's current value from its original value. First, find 8% of $22,000, which is 0.08 multiplied by $22,000, equalling $1,760. Then subtract that amount from the original value:

$22,000 - $1,760 = $20,240.

Therefore, after the accident, Aidan's car will be worth $20,240 next year.