A new car is purchased for 25000 dollars. The value of the car depreciates at 8.25% per year. What will the value of the car be, to the nearest cent, after 15 years?
25000 ( 1 - .0825)^15 ≈ 6871.18
What will the value of the car be, to the nearest cent, after 15 years?
100%−8.25%=91.75%=0.9175
v(after 15 years)=25000 USD⋅0.917515=6_871.18 USD
Thanks T.Phill
!