Question

at the start of 2014, mike's car was worth £12000. the value of the car decreased by 30% every year. what is the value of the car in2017

Answer 1

The value of the car would be $4,116.00 at the start of 2017.

Explanation:

At the start of 2014 Mike's car was worth = $12,000

The value of the car decreased by 30% every year.

We have to calculate the value of the car after 3 years at the start of 2017.

= 12000(1-0.30)^3

= 12000 × 0.343

= $4,116

So the value of the car would be $4,116.00 at the start of 2017.

Answer 2

$4,116.

Explanation:

Beginning of 2015:

30% of 12000 = 30/100 x 12000 = 3600

The value in 2015: 12000-3600 = $8400.

The start of 2016:

30% of 8400 = 30/100 x 8400 = 2520

The value in 2016 = 8400-2520 = $5880.

Start of 2017

30% of 5880 = 30/100 x 5880 = 1764

Value in 2017 = 5880-1764 = $4116.

So, the value of his car at the start of 2017 is $4116.

Hope this helped and good luck! (: