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21 July, 20:01

Sam bought a new car for $26,500. The car depreciates approximately 13% of its value each yeah. what is the approximate value of the car in 10 years?

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  1. 21 July, 20:11
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    Original value = $26,500

    Yearly depreciation rate = 13% = 0.13

    In 10 years, the value will be

    26500 * (1 - 0.13) ¹⁰ = 6583.22

    Answer: $6,583 (approximately)
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