Automobile: You buy a car in 1990 that is worth $20,000. If it *looses* value at a rate of 13% per year, how much will your car be in 1995? And in 2005?
Math help?
Hard trick question , no ...let me see if I can figure it out...
Pencil Paper one hand....
13% is = to X .13 each year
1990 driving off the lot 20000 1st year - 2600
1991 .............................17400 2nd year -2262
1992 ............................. 15138 3rd year -1967.94
1993 ............................. 13170.06 . 4th yr -1712.11
1994 ............................. 11457.95. 5th yr - 1489.53
1995 ................................ 9968.42 ..6th yr - 1295.90
1996 ............................ .. 8672.52 ... 7thyr -1127.43
1997 ............................ .. 7545.09 ... 8thyr - 980.86
1998 ............................ .. 6564.23 .. 9th yr - 853.35
1999 ............................ .. 5710.88 .. 10yr .. - 742.41
2000 ............................... 4968.47 .. 11yr .. - 645.90
2001 ............................... 4322.57 .. 12yr .. -561.93
2002 ............................... 3760.64 .. 13yr .. -488.88
2003 ................................ 3271.76 .. 14yr .. -425.33
2004 ................................ 2846.43 .. 15yr .. -370.04
2005 ................................ 2476.39 .. 16yr .. -
Great question
Math help?
1990 = $9,968.42
2005 = $2,476.39
Reply:20,000x0.13=2600. The car will loose 2600 the first year. (20,000-2600)x0.13=2262 the next year and so on.
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