SOLUTION: A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?

Question 1137004: A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!

Original Price = $

if reduced by % each year,
after one year, this can be represented as:

$ or $

or $

WE THEN JUST MULTIPLY THE PREVIOUS AMOUNT BY EACH YEAR

making a table
YEAR | AMOUNT
| $
| $
| $
| $

and so on

WE CAN REWRITE THIS AS: $ WHERE IS THE NUMBER OF YEARS

SO AFTER YEARS: AMOUNT = $

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