Question

Mr.Roney bought a brand new car for $25,000 in 2015. It is projected that her car will lose value by 7.25% each year. If Mr.Roney decides to sell his car in 2025, how much money will the car be worth

Answer 1

We can make a recursive routine on a graphing calculator for this.

First, enter {25000, 2015} to represent the original value and the year. Hit enter.

Then enter {Ans(1)x0.9275, Ans(2)+1} to represent the value loss (multiplying
the original by less than one so it comes out less) and adding on a year.

Keep hitting enter until the second value in the brackets is 2025, the year he will sell his car.

You will end up with {11778.2072, 2025}.

The first value is 11,778.2072, which to the nearest cent the car will be worth
$11,778.21 once the year 2025 rolls around.

Hope this helps!