Question

a new car is bought for 16500 dollars. the valuve of the car depreciates at 5.75% per year. what will the value of the car be after 5 years.

Answer 1

16,500 x 0.0575 = 984.75

984.75 x 5 = 4743.75

16,500 + 4743.75 = 21,243.75