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Sam purchases a new car for $29,500. The car depreciates at a rate of 13.25% per year. What is the value of the car after 7 years?
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Sam purchases a new car for $29,500. The car depreciates at a rate of 13.25% per year. What is the value of the car after 7 years?

User JohnMa
by
7.9k points

1 Answer

6 votes

Answer:

10907.078

Explanation:

29500 × .8675 × .8675 × .8675 × .8675 × .8675 × .8675 × .8675 = 10907.0775302

rounded to 10907.078

User Zuoanqh
by
7.6k points
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