c. What is the approximate trade-in value of a \( \$ 10,000 \) car after 2 yr ? The trade-in value of a \( \$ 10,000 \) car after 2 yr is \( \$ \square \).

A general rule of thumb is that a car depreciates around 15-20% in the first year and about 10-15% in the following years. So after two years, your \( \$10,000 \) car could be worth approximately 65-75% of its original value. That could mean a trade-in value of about \( \$6,500 \) to \( \$7,500 \) depending on the make, model, and condition of the vehicle. Keep in mind, the actual trade-in value may vary based on the car's mileage, service history, and market demand. Don’t forget to clean your vehicle and gather all service records; a well-presented car can sometimes fetch a better offer than the standard depreciation suggests!