Question

A new car is purchased for 16400 dollars. The value of the car depreciates at 12.5% per year. What will the value of the car be, to the nearest cent, after 8 years?

Answer 1

Step-by-step explanation:

Here

Initial price =16400$

Rate of depreciation =12.5%

Time=8 yrs

Then

Final price =? Suppose(pt)

We know that

Final price =p(1-R/100)^t

=pt= 16400(1-12.5/100)^8

=pt =16400(0.875)^8

Pt=5635.186219$

• Correct
• Incorrect

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