Question

Matt bought a new car at a cost of $25,000. The car depreciates approximately 15% of its value each year. What will the car be worth in 10 years?

Answer 1

Answer:

$37500

Step-by-step explanation:

cost =$25000

P=(cost price/100)×%

=($25000/100)×15

=$250×15

=$37500

Answer 2

The value of car is Rs.4921.86 in 10 years

Step-by-step explanation:

Present value of car = $25000

The car depreciates approximately 15% of its value each year.

Rate of depreciation = 15% = 0.15

Formula : $A=P(1-r)^t$

$A=25000(1-0.15)^{10}$

A=4921.86

Hence the value of car is Rs.4921.86 in 10 years

#Learn more:

A car was bought for Rs 2,40,000. Its value is depreciated at 15% per annum. What is the value of the car after three years?

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