The value of a car purchased for $20,000 decreases at a rate of 12% per year. What will be the value of the car after 3 years?
FV = PV [1 + R]^N
FV = 20,000 x [1 - 0.12]^3
FV = 20,000 x 0.88^3
FV = 20,000 x 0.681472
FV = $13,629.44 - the value of the car after 3 years.
tysm
+470 
