Question

I really need help!! Imagine you bought a car that is valued at $20,000 but depreciates at a rate of 15% per year. How much is the car worth after 5 years? What is your classmate’s error, what is the correct equation, and what is the value of the car after 5 years?

thanks

Answer 1

[tex]20000 \times 0.15 \times 5 = 15000 \\ 20000+15000=35000

Explanation:

20000 times (0.15 is rate) times years (5)

Answer you get is 15000 , then you have to take 20000+15000=35000