Question

Car cost $40000 it depreciates 12% each year. What is the cars value in 5yrs

Answer 1

The formula is
A=p (1-r)^t
A future value?
P present value 40000
R rate of depreciation 0.12
T time 5years
A=40,000×(1−0.12)^(5)
A=21,109