230k views
3 votes
A vehicle purchased for $

27500
depreciates at a constant rate of
6
%.

Determine the approximate value of the vehicle
15
years after purchase.

User Uros K
by
7.9k points

1 Answer

9 votes

Answer:

$10,870

Explanation:

we can multiply the initial value (27500) by (1-.06), or 0.94, raised to the 15th power

27500(.94)^15 = 10,870.52

User Kentor
by
8.0k points

Related questions

asked Mar 28, 2024 10.6k views
Antwan Van Houdt asked Mar 28, 2024
by Antwan Van Houdt
7.1k points
2 answers
3 votes
10.6k views
asked Aug 5, 2024 85.1k views
Sumit Sharma asked Aug 5, 2024
by Sumit Sharma
7.5k points
1 answer
3 votes
85.1k views