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In the year 2003, a person bought a new car for $13500. For each consecutive year after that, the value of the car depreciated by 7%. How much would the car be worth in the year 2005, to the nearest hundred
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In the year 2003, a person bought a new car for $13500. For each consecutive year after that, the value of the car depreciated by 7%. How much would the car be worth in the year 2005, to the nearest hundred dollars?

User Yuli Hua
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1 Answer

11 votes

13500x0.07 = 945

945 x 2 = 1890

13500 - 1890 = 11610

To the nearest hundred dollars: 11,600

ANSWER: 11,600

User Ikari
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