IMathAS-libretexts

A vehicle purchased for $ $\displaystyle {20700}$ depreciates at a constant rate of $\displaystyle {8}\%$ . Determine the approximate value of the vehicle $\displaystyle {8}$ years after purchase.

$\displaystyle {8}$ years after purchase, the vehicle will be worth approximately $3,473.
$\displaystyle {8}$ years after purchase, the vehicle will be worth approximately $20,636.
$\displaystyle {8}$ years after purchase, the vehicle will be worth approximately $38,314.
$\displaystyle {8}$ years after purchase, the vehicle will be worth approximately $10,624.

Question Help:
Video

License