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12 November, 15:04

John is planning to purchase a new car that costs $15,500. On average, a new car loses 11% of its value the moment that it is driven out of the lot. After 5 years, on average, the car is worth 37% of what you paid for it at the dealership. How much will John's car be worth after 5 years?

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  1. 12 November, 15:15
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    15500 times 0.37 is 5735.

    $5735

    The 11% statement is extra information.
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