timi06
contestada

The value of a car is $18,000 and is depreciating at a rate of 12% per year. Find how much the car will be worth in 10 years?

Respuesta :

mhanifa

Answer:

  • $5013

Step-by-step explanation:

  • Initial value of a car - $18000
  • Depreciation rate - 12% per year
  • Time - 10 years

Depreciation factor is (100 - 12)/100= 0.88 per year

Final value of the car:

  • $18000*(0.88)¹⁰ = $5013