math question math

Question

A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?

Answer 1

math question math

A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?

Hi Porter,

Use A = P(1 - r)^t .....* It is (1 - r) because it is depreceating, else (1 + r) for a gain in value.

A = 17000(1 - .135)¹²

A = $2982.92