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The original value of a car is $18,000 and it depreciates (loses value) by 15% each year. What is the value of the car after three years?

The original value of a car is $18,000 and it depreciates (loses value) by 15% each year. What is the value of the car after three years?
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The original value of a car is $18,000 and it depreciates (loses value) by 15% each year. What is the value of the car after three years?

User Edmond
by
8.3k points

1 Answer

3 votes

Answer:

$11054.25

Explanation:

($18000)(1 - 0.15)³ = $11054.25

User ZooZ
by
8.1k points
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