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A car sells for 16,000. If the rate of depreciation is 18%, find the value of the car after 8 years.
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A car sells for 16,000. If the rate of depreciation is 18%, find the value of the car after 8 years.

User Nagaraj Tantri
by
3.5k points

1 Answer

4 votes

Answer:

Explanation:

price after 8 years Amount=P(1-0.18)^8

Amount=16,000(1-0.18)^8

=16,000(0.82)^8

≈3270.63 $

User Narayana Rao Routhu
by
3.2k points
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