Question

When Mike graduated college, his dad bought him a new truck worth $22,000. One year later, the truck had dropped 15% in value. If the truck's value continued to drop by 15% each year, what is the trucks value after 3 years? Round your answer to the nearest dollar.

need this asap

Answer 1

$13,511

Explanation:

Year 1: $22,000×.85=$18,700

Year 2: $18,700×.85=$15,895

Year 3: $15,895×.85=$13,510.75

($13,511 to nearest dollar)