gleo bought a new car it cost 23500 each year it loses 15% of its value what would it be worth when its 15 years old

almost zilch.

future value=23500(.85)^15=2052

To calculate the value of the car when it's 15 years old, we need to determine how much it loses each year and subtract that from the original cost.

Step 1: Calculate the amount the car loses each year:
15% of $23,500 = $23,500 × 0.15 = $3,525

Step 2: Calculate the value of the car after 15 years:
Original cost - Amount lost each year × Number of years
$23,500 - $3,525 × 15 years

Step 3: Calculate the final value:
$23,500 - $3,525 × 15 = $23,500 - $52,875
$23,500 - $52,875 = -$29,375

Based on this calculation, the car would be worth -$29,375 when it's 15 years old. However, it's worth mentioning that this value is a negative number, which indicates that the car's value has depreciated beyond its original cost.

To calculate the value of the car when it is 15 years old, we need to determine how much it loses each year.

We know that the car loses 15% of its value each year. To find out how much the car is worth after one year, we need to subtract 15% of the initial value from the initial value. Mathematically, we can calculate this using the formula:

Value after one year = Initial value - (15/100) * Initial value

Since we're looking to find the value after 15 years, we can use the same formula for each year and continuously subtract the depreciation amount from the previous year.

Here's a breakdown of the calculation steps:

1. Calculate the value after one year:
Value after one year = 23500 - (15/100) * 23500

2. Calculate the value after two years:
Value after two years = Value after one year - (15/100) * Value after one year

3. Continue this process for 15 years.

Alternatively, we can create a loop to iterate the calculation 15 times:

1. Set the variable "value" to the initial value, which is 23500.
2. Set up a loop to iterate 15 times.
3. Within each iteration of the loop, calculate the depreciation amount for that year, which is (15/100) * value.
4. Subtract the depreciation amount from the previous year's value.
5. Update the "value" variable with the new calculated value.
6. Repeat steps 3 to 5 for each of the 15 years' iterations.
7. After the loop, the final value of the car when it is 15 years old will be stored in the "value" variable.

Using either of these methods, you should be able to calculate the value of the car when it is 15 years old.

hjm