88.1k views
4 votes
Cardania bought a car for $12,000 ten years ago, and it has been depreciating (decreasing in value) at a rate of 8% per year since she drove it off the showroom floor.

How much is the car worth today (10 years after her purchase)?

User Chuma
by
7.0k points

1 Answer

6 votes

Answer:

The car is worth about 5212.66$ 10 years after her purchase.

Explanation:

12000(1-0.08)^10=5212.661451

User Holt
by
6.6k points