Question

i have always had problems with word problems, thanks in advance.

Answer 1

Given:

The cost of the car = $17900

The value of the car depreciated at 12.25% per year

So, after one year, the cost of the car will be= 100 - 12.25 = 87.75% of the original value

The value of the car after 10 years will be:

$17900\cdot(\frac{87.75}{100})^{10}=4845.34$

So, the answer will be after 10 years the value of the car = $4845.34