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Your car cost $42,500 when you purchased it in 2015. The value of the car decreases by 15% annually. How much is your car going to be worth in 2021?

Your car cost $42,500 when you purchased it in 2015. The value of the car decreases by 15% annually. How much is your car going to be worth in 2021?
205k views
3 votes
Your car cost $42,500 when you purchased it in 2015. The value of the car decreases by 15% annually. How much is your car going to be worth in 2021?

User While
by
8.3k points

1 Answer

4 votes
Answer:
$16,028.85

Working out:
(On calculator) 42,500 x 0.85^6
User Thispatchofsky
by
7.4k points
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