Question

A $30,000 car depreciates in value 12% a year. How much will the car he worth in 5 years?

Answer 1

Answer:

The car will be worth $12,000

Explanation:

take away 12% each year

year 1: 26,400 (-12% from 30,000)

year 2: 22,800 (-24% from 30,000)

year 3: 18,600 (-36% from 30,000)

year 4: 15,600 (-48% from 30,000)

year 5: $12,000 (-60% from 30,000)