A new car is purchased for 22400 dollars. The value of the car depreciates at 6.75% per year. What will the value of the car be, to the nearest cent, after 9 years?

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Sudhir Sharma asked Aug 16, 2022

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A new car is purchased for 22400 dollars. The value of the car depreciates at 6.75% per year. What will the value of the car be, to the nearest cent, after 9 years?

Mathematics
high-school

Sudhir Sharma asked Aug 16, 2022

by Sudhir Sharma

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12 votes

Answer:

Answer: $11,942.29

Explanation:

Let the value after 9 years be y

y = 22400 (0.9325)^9

y = 11,942.29Step-by-step explanation:

Matthew Mullin answered Aug 22, 2022

by Matthew Mullin

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