a car enthsiast learsn that a particular car , which cost $34000 new, loses 15% of its value every year. how much will the car be worth in 5

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a car enthusiast learns that a particular car , which cost $34000 new, loses 15% of its value every year. how much will the car be worth in 5 years?

Guest Mar 25, 2015

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Best Answer

Use the formula: A = P(1 - r)^t

where A = final amount; P = beginning amount = 34000; r = rate = 0.15; t = time = 5:

A = 34000(1 - 0.15)⁵

Now, it's calculator time!

geno3141 Mar 25, 2015

geno3141 · Answer 1 · 2015-03-25T08:09:48

Use the formula: A = P(1 - r)^t

where A = final amount; P = beginning amount = 34000; r = rate = 0.15; t = time = 5:

A = 34000(1 - 0.15)⁵

Now, it's calculator time!