SOLUTION: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years? Round to the nearest dollar.

SOLUTION: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years? Round to the nearest dollar.

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Question 1030477: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years?
Round to the nearest dollar.
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
This one is found this way...
P(3) = P(0)*(.80)^3 = 29500*(.80)^3 = $15104
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