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You buy a new car for $31,300. The average car depreciates in value by 14% per year. How much will it be worth after each of the following 1 year?

You buy a new car for $31,300. The average car depreciates in value by 14% per year. How much will it be worth after each of the following 1 year?
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You buy a new car for $31,300. The average car depreciates in value by 14% per year. How much will it be worth after each of the following 1 year?

User Aashitvyas
by
8.6k points

1 Answer

3 votes

A = P(1 + rt)

A=31,300(1+.14*1)

A=35682

User Robject
by
8.0k points
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