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?
\(100\%-8.25\%=91.75\%=0.9175\)
\({\color{blue}v_{(after\ 15\ years)}}=25000\ USD\cdot 0.9175^{15}\color{blue}=\underline6871.18\ USD\)
Thanks T.Phill
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+5 
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