Question

A new car valued at $16,500 depreciates at a steady rate of 12% per year. What is the value of the car in 10 years?​

Answer 1

Answer:

$4595.27

Step-by-step explanation:

f(x)=c*a^x

c = $16,500

a = 1 - 0.12 = 0.88

x = 10

16,500*0.88^10 = $4595.27

Answer 2

Answer:

Step-by-step explanation:

 Rate = 12% = 0.12

value after 10 years = A*(1-r%)^n

= 16500*(1-0.12)^10

=16500*(0.88)^10

=16500*0.2785

=$4595