Question

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

Answer 1

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