Question

A car originally is worth $3000. It is decreasing in value by 3% every year. How much is it worth in 3 years.

(Round to the nearest cent)

Answer 1

$2825,32

Explanation:

Value of the car after 1 year

$3000 * 3% = 3000 * 0.03 = 90

3000 - 90 = $2910

Value of the car after 2 year

$2910 * 3% = 2910 * 0.03 = 87.3

2910 - 87.3 = $2912,7

Value of the car after 3 year

$2912,7 * 3% = 2912,7 * 0.03 = 87.381

2912,7 - 87.381 = $2825,319

"Round to the nearest cent"

$2825,32