Question

Please help?

The original purchase price of a car is $14,000. Each year, its value depreciates by 10%. Three years after its purchase, what is the value of the car?

Answer 1

you can use the formula for compund interest
P(1+r/n)^nt
P is the initial principal = $14,000
r is the interest rate = 10% or 10/100 = 0.1
n is the number of times per year it will be charged, this case is once = 1
t is how many years = 3

Answer 2

ops, one moment..

Answer 3

well, you will find a value, you subtract the difference between this value and the initial $14,000 from $14,000