A car purchased for $20,000 depreciates annually at a rate of 8%. What will be the approximate value of the car in the 10th year?

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asked Jan 13, 2022 53.9k views

7 votes

A car purchased for $20,000 depreciates annually at a rate of 8%. What will be the approximate value of the car in the 10th year?

Mathematics
college

Xiaohong asked

by Xiaohong

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2 Answers

9 votes

Answer:

$8687.76

Explanation:

100-8=92

20,000*0.92=18400 (This is after one year)

20,000*0.92^10= 8687.7690 (After 10 years)

Stars Tracker answered Jan 14, 2022

by Stars Tracker

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6 votes

Answer:

$4000

Explanation:

20000x0.08=1600

1600x10=16000

20000-16000=4000

Khadreal answered Jan 17, 2022

by Khadreal

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