Question

The value of a new car decreases by about 15% in the first year.

How much will a car be worth after one year if its initial value was
$1,000? $5,000? $5,020? x dollars?.

Answer 1

initial value of $1,000: $850

initial value of $5,000: $4,250

initial value of $5,020: $4,267

0.15 times x

then subtract that from x

Explanation:

Answer 2

• See below

Explanation:

Given:

• Initial price is x
• Rate of decrease is 15%

Value of the car after one year:

• x - 15% = x - 0.15x = 0.85x dollars

When x = $1000, the value:

• 0.85*$1000 = $850

When x = $5000, the value:

• 0.85*$5000 = $4250

When x = $5020, the value:

• 0.85*$5020 = $4267