SOLUTION: A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos now, what is its value on the 5th year?

SOLUTION: A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos now, what is its value on the 5th year?

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Question 1087797: A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos now, what is its value on the 5th year?

Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Since the car depreciates by 5%, it will be worth 95% of what it was the year before. So:
0.95^5=0.7737809375
0.7737809375 x 650000=?
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