Question

Sam has purchased a $30,000 car for his business. The car depreciates 30% each year. I know the sequence is arithmetic, I know the recursion equation, I know the function formula. How do I find the value of the car AFTER the 5th year?

Answer 1

30000*(0.7^5)=5042.1, becuase 100-30 percent is 70 percent.