A new car is purchased for $16,500. The value of the car depreciates at 5.75% per year. What will the value of the car be, to the nearest cent, after five years?

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asked Jul 20, 2021 90.0k views

4 votes

A new car is purchased for $16,500. The value of the car depreciates at 5.75% per year. What will the value of the car be, to the nearest cent, after five years?

Mathematics
high-school

Sean Rucker asked

by Sean Rucker

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1 Answer

2 votes

Answer:

12,271.304

Explanation:

100- 5.75= 94.25

0.9425^(5)= 0.7437154341

0.7437154341 × 16500 = 12,271.3046626

Venson answered Jul 27, 2021

by Venson

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