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A new car that sells for 15,000 depreciates 7 % each year.Write an equation that represents the value of the car.What is the value of the car after 5 years?
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A new car that sells for 15,000 depreciates 7 % each year.Write an equation that represents the value of the car.What is the value of the car after 5 years?

User Troels Arvin
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8.5k points

1 Answer

4 votes

Answer:

1500(1-0.07)^5

I used the equation p(1-r)^t

p is the principal

r is the rate

t is the time in years

User Alex Rouse
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