SOLUTION: please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years?

SOLUTION: please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years?

Algebra.Com

Question 120393: please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years?
Answer by tutor_paul(519) (Show Source): You can put this solution on YOUR website!
Use the depreciation formula, which is:

Where:
V= future value, P= present value, R= depreciation rate, and n= # of years.
In your case, you get:

================
Good Luck,
tutor_paul@yahoo.com
RELATED QUESTIONS
please help me solve this problem- A car is worth $9000.Each year it depreciates by... (answered by stanbon)

Please help me solve this problem. New cars depreciate an average of 28% in thier first... (answered by checkley77)

jonas purchased a car. It depreciates by 6% each year. After 5 years the car is worth... (answered by josgarithmetic)

Colin buys a car for £22000. It depreciates at a rate of 1% per year. How much will... (answered by Boreal)

A car depreciates by 30% the first year and 12% per year afterward. How much will a... (answered by drj)

Please help me solve this problem. State whether the growth (or decay) is linear... (answered by ikleyn)

Peyton bought a car for $38,000 an it�s value depreciates 18% each year. After how many... (answered by stanbon)

PLEASE HELP ME PLEASE ! The Griffins bought a netbook for $250. It the small computer... (answered by Alan3354)

Kiana purchased a car for $14000 and realized that the value of the car depreciates at a... (answered by richwmiller)