Question

In the year 2001, a person bought a new car for $12000. For each consecutive year after that, the value of the car depreciated by 10%. How much would the car be worth in the year 2004, to the nearest hundred dollars? i need this asap

Answer 1

Answer: $8700.

Explanation:

The equation we can use is p x r^years.

p is the original value ($12000).

r is our multiplier, it goes down by 10% so our multiplier is 1-0.1 giving us 0.9.

IT is 2001 to 2004 so 3 years so we do r to the power of 3.

So we use 12000 x 0.9^3.

This is equal to 8748, to the nearest 100 dollars its $8700.