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A $30,000 car depreciates in value 12% a year. How much will the car be worth in 5 years?
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A $30,000 car depreciates in value 12% a year. How much will the car be worth in 5 years?

User Tylor
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2 Answers

1 vote
It will be worth $15,832
User Pixel Rubble
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7.5k points
2 votes
f=ir^t, f=final value, i=initial value, r=rate, t=time, in this case:

f=30000((100-12)/100)^t

f=30000(0.88)^t so

f(5)=30000(0.88)^5

f(5)=$15831.96 to nearest cent
User Idan Moshe
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7.2k points
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