Question

The value of a car decreases by about 15% in the first year. How much will a car be worth after one year if its initial value was 1000? 5000? 5020? X dollars?

Answer 1

Results are below.

Explanation:

Giving the following information:

Decrease in value= 15%

To calculate the value after one year, we need to use the following formula:

New value= current value/1.15

For $1,000:

New value= 1,000/1.15= $869.57

For $5,000:

New value= 5,000/1.15= $4,347.83

For $5,020:

New value= 5,020/1.15= $4,465.22