Question

A new car is purchased for 20300 dollars. The value of the car depreciates at 9.5% per year. What will the value of the car be, to the nearest cent, after 11 years?

Answer 1

6770.65$

Explanation:

The formula for this is

20300×(0.905)^11

20300×0.333529591

6770.6507

which can be rounded to

6770.65$