Question

At the end of any year a car is worth 5% less than what it was worth at the beginning of the year. If certain car was worth $10,000 at the beginning of 2014, then its value at the end of 2014 was ​

Answer 1

$9500

Explanation:

A=P(1-r)^t is the general model for decay. A being the end result of 2014, p is the amount beforehand, r is decay as a decimal, t is time. I think t would just be one since it's one year in time? 9500=10,000(1-0.05)^1