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Mara bought her car for $19,980. It is expected to depreciate an average of 13% each year during the first 8 years. What will the approximate value of the car be in 8 years?

A6364
B6426

C)6558

D)6832

Verified Answer :

smorin52

if the car depreciates an average of 13% per year after 8 years the value of the car should be about $6558

Hope this helped :)

Answer: Option 'C' is correct.

Step-by-step explanation:

Since we have given that

Amount at which she bought her car = $19980

Rate of depreciation = 13%

Number of years = 8 yrs

As we know the formula for "Compound Interest ":

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Hence, the approximate value of the car will be $6558 in 8 years.

Hence, Option 'C' is correct.

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