Answer:
$4626.548
Step-by-step explanation:
Given that :
Cost of car = $23,500
Value of car decreases by 9% every year
Value of car after 10 years =?
Using the formula :
A = p(1 + r/n)^nt
A = final amount
P = cost of car = principal
r = Depreciation = - 15%
t = number of years
A = 23500(1 + - 0.15/1)^10
A = 23500(0.85)^10
A = $4626.548
