SOLUTION: A car that sold for $12,000 lowers in value by 20% each year. what is its value after 5 years?

SOLUTION: A car that sold for $12,000 lowers in value by 20% each year. what is its value after 5 years?

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Question 314324: A car that sold for $12,000 lowers in value by 20% each year. what is its value after 5 years?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
12,000(1-.20)^5
12,000(.8)^5
12,000*0.32768=$3,932.16 ans.
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