Question

In 2020 a new Ford Mustang costs $24,000. Every year the value of the car depreciates by 9%. How much will the car be worth in 2027?​

Answer 1

$21,626.625

Explanation:

I used the sum of a geometric series, then subtracted that amount from the original, this gave the total value depreciated, I then subtracted that from the original amount and there is the answer.

Answer 2

8,880! Scroll down for step-by-step. :)

Explanation:

How much has the value decreased over 7 years? 9 x 7 = 63. 24,000 - 63% = 8,880!