Question

Sarah bought her car for $17,440. It is expected to depreciate an average of 14% each year during the first 6 years.

What will the approximate value of her car be in 6 years

Answer 1

To find how much it decreases in value, you need to find 14% of the price she bought it at and subtract it for each year. Multiply the price 17,440 by .14 and then subtract that from 17,440 to find how much the car will be worth after 1 year. Do the same thing for the next 5 years but replace the 17,440 by the new number... do you understand where I'm going with this? We can work it out together.

Answer 2

17,440 * .14 = 2441.6
17,440 - 2441.6 = 14998.4

The price after the first year is $14,998.4. Do the same process, multiply that price by .14 and then subtract from the original price. Do this 5 more times. Do you understand?

Answer 3

I got $7055.65734 as the final answer, the price the car will be at in 6 years. Let me know what you got as it will probably be slightly different due to rounding. The approximate value should be around there.

Answer 4

Sorry , i did something wrong the first time . But yeah that is about the answer I got too on the second try.