A new car valued at $16500 depreciates at a steady rate of 20% per year. What is the value of the car in 15 years

So, we need to make an equation.

Since it is depreciating at 20%, it will be 80% of what it previously was.

The equation will be

16,500*0.8^x=y

X will be replaced by 15, so we can find what it is.

16,500*.035184372088832

≈580.54

So, the value of the car in 15 years will be $580.54.

The answer is 145.15.