A new car is purchased for $16600. The value of the car depreciates at 9.75% per year. What will the value of the car be, to the nearest cent, after 8 years?

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asked May 18, 2023 91.1k views

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A new car is purchased for $16600. The value of the car depreciates at 9.75% per year. What will the value of the car be, to the nearest cent, after 8 years?

Mathematics
college

Rema asked

by Rema

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1 Answer

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Answer:

$3652

Explanation:

9.75% × $16600 = $1618.50

$16600 - (8 × $1618.50) = $3652

Michael Niemand answered May 25, 2023

by Michael Niemand

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