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A new 2018 Honda Accord was valued at $25,000. Itdeprecistes at a rate of 13% a year what is the value in 2034

1 Answer

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Therefore the value of Honda Accord in 2034 is $2,693.07

Explanation:

Given a new 2018 Honda Accord was valued at$ 25,000. It depreciates at a rate of 13%a year.

Time (n) = 16 year , P =$25,000 and r = 13%

Amount
A = P(1-(r)/(100) )^n

=$
25,000(1-(13)/(100))^(16)

=$
2,693.07

Therefore the value of Honda Accord in 2034 is $2,693.07

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