You buy a new car for $25,000 and it depreciates at a rate of 6.5% per year. How much would it be worth in 5 years? Round to the nearest cent.

asked Jun 13, 2021 78.2k views

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You buy a new car for $25,000 and it depreciates at a rate of 6.5% per year. How much would it be

worth in 5 years? Round to the nearest cent.

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4 votes

Answer:

$17864.80

Explanation:

25000*(1-0.065)^5

25000*0.935^5

25000*0.71459184283

17864.79607

Mindbreaker answered Jun 19, 2021

4.1k points

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