Question

A new car is purchased for $16,500. The value of the car depreciates at 5.75% per year. What will the car be worth, to the nearest penny, after 5 years?

Answer 1

The value of the car after 5 years is $12271.05

The present value of the car, PV = $16500

The rate of depreciation, r = 5.75%

r = 5.75/100

r = 0.0575

Explanation:

Answer 2

Explanation:

I think it would be 500