SOLUTION: Sam has purchased a $30,000 car for his business. The car depreciates 30% every year. Depreciate means the value of the car goes down by that percent each year. What will be the va

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Question 1185229: Sam has purchased a $30,000 car for his business. The car depreciates 30% every year. Depreciate means the value of the car goes down by that percent each year. What will be the value of the car after the 5th year? Note: The car is 0 year old when purchased so the first year is the second entry in the sequence.
Answer by ikleyn(52776)   (Show Source): You can put this solution on YOUR website!
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Sam has purchased a $30,000 car for his business. The car depreciates 30% every year.
Depreciate means the value of the car goes down by that percent each year.
What will be the value of the car after the 5th year?
Note: The car is 0 year old when purchased so the first year is the second entry in the sequence.
~~~~~~~~~~~~~~~~~~~~~~~


            I do not understand your question precisely.

            After the  5th year,  the  6th year follows.

            So,  I will give my answer for the  6-th year. 


Every next year the value of the car is  100% - 30% = 70% = 0.7 of the previous year value.


0-th year value is $30,000.   n-th year value is  ,  n = 0, 1, 2, 3, . . . 


  T    A    B    L    E


    year         value
-------------------------

  0-th year	30000.00
  1-th year	21000.00
  2-nd year	14700.00
  3-rd year	10290.00
  4-th year	 7203.00
  5-th year	 5042.10
  6-th year	 3529.47


6-th year value is   = 3529.47  dollars.      ANSWER

Solved and explained.



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