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In the year 2003, a person bought a new car for $25000. For each consecutive year
after that, the value of the car depreciated by 12%. How much would the car be worth
in the year 2006, to the nearest hundred dollars?

Respuesta :

Step-by-step explanation:

multiply 25000Γ—12/10

and 2003-2006 is 3 years

next steps are in the attached pic

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mhanifa

Answer:

  • $17000

Step-by-step explanation:

Given

  • Initial value PV = $25000
  • Depreciation rate r = 12% per year
  • Time t = 2006 - 2003 = 3 years
  • FV = ?

Required formula and solution

  • FV = PV*(1 - r)^t
  • FV = 25000*(1 - 0.12)^3 = $17036.80 β‰ˆ $17000 (rounded)

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