Question

A car is purchased for $23,500. After each year, the resale value decreases by 25%. What will the resale value be after 3 years?

Use the calculator provided and round your answer to the nearest dollar.

Answer 1

After 3 years it will be $9,400

Explanation:

First multiply 23,500 by .20 and get 4700. Now multiply by 3 which is 3 years and it equals 14,100. Now subtract from 23,500-14,100 and get 9,400.

Answer 2

$5,875

Explanation: