I need help with this math equation

Question

A car is purchased for $20,500. After each year, the resale value decreases by 35%. What will the resale value be after 4 years?

Use the calculator provided and round your answer to the nearest dollar.



$_______

Answer 1

The equation would be

A = Ao(1-r)^t

Ao is the initial value

r is the rate

t is time

A=20500(1-.35)⁴

A=$3659.38

To the nearest dollar $3659.00