First, we need to know how much the car depreciates each year. Multiply the price of the car by the percentage.
We can turn 9% into a decimal by moving the decimal point two places to the right.
9% = .09
24500 * .09 = 2205
Multiply the product by the amount of years you want to predict the price at.
2205 * 10 = 22050
Subtract that from the original price of the car.
24500 - 22050 = 2450
The value of a 10 year old car that costs $24500 and depreciates 9% every year will cost $2450.
