Question

Can someone help me with this ? I will give a medal :)

Answer 1

Suppose you buy a car with a value of $10,750. Each year the value of your car will depreciate by 5.9%. how much will your car be worth in 10 years?


A. $19,070.76

B.$6,504.50

C.$7,074.39

D.$5,852,01

Answer 2

So what you want to do is multiply the price of the car by .59, then you take that amount and subtract it from the price of the car. Repeat this 10 times.

Answer 3

If the car depreciates by 5.9% per year, it loses .059 of its value and retains 1 - .059 = .941 of its value.

Over a 10-year period the car's value would be:

10750* (.941)^10

Agree?

Crank that out @Opentowherelifeis and see if that result seems reasonable.

Answer 4

Actually, it's .059 not .59

Answer 5

wouldn't that be $5,852.01

Answer 6

@Directrix

Answer 7

That is what I got.

Answer 8

so D is the correct answer

Answer 9

@Directrix