Question

Jonathan bought a new car in November that cost $23,000. The value of the car decreases by 15% each year. What will the value of the car be in five years? *Give the exact value~nearest penny

Answer 1

$5750

Explanation:

To find what 15% is in money, we do

23,000*15/100=3450 for one year

3450*5(for five years)=$17,250

Now subtract that

23,000-17,250=$5750