A car was purchased in 1985 for $15,000. Its value in current dollars depreciates steadily at a rate of 13% per year. What will the car's value be at the beginning of 2003?
A) $1187.25
B) $1223.03
C) $1314.58
D) $1551.05

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The Answer of A car was purchased in 1985 for $15,000. Its value in current dollars depreciates steadily at a rate of 13% per year. What will the car's value be at the beginning of 2003?
A) $1187.25
B) $1223.03
C) $1314.58
D) $1551.05

A Car Was Purchased in 1985 for $15,000