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

Answer: $2738.02

Explanation:

1) (3000x0.97) = 2910 } Year 1

2) (2910x0.97) = 2822.7 } Year 2

3) (2822.7x0.97) = 2738.019 } Year 3