Question

In the year 2008, a person bought a new car for $17000. For each consecutive year after that, the value of the car depreciated by 8%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

Answer 1

Explanation:

This is a simple exponential equation:

cost=17000*0.92^(years after 2008)

so since 2011-2008 yields 3

it will be 3 years after 2008, so

cost = 17000 * 0.92^3

$13,237.69

Answer 2

$ 17000 * 0.92 ^ 3 = $ 13237.696

to the nearest hundred it's $ 13000

i hope yoe start to see the pattern here