u paid $10,000 for a car whose value is depreciating by 15% per year, compounded annually. Assuming that this trend continues, how much would your car be worth after 3 years? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.

u paid $10,000 for a car whose value is depreciating by 15% per year, compounded annually. Assuming that this trend continues, how much would your car be worth after 3 years? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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