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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
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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You 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. 

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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