document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=253692>Question 253692</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A new car loses 20% of its original value when you buy it and 8% of its original value per year  . A 6 year old car is worth $12000 what was the original value? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #186035 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=186035\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A new car loses 20% of its original value when you buy it and 8% of its original value per year .<BR>\n" );
document.write( "A 6 year old car is worth $12000 what was the original value?<BR>\n" );
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document.write( "Let \"x\" be the original value.<BR>\n" );
document.write( "After one year the car is worth 0.80x<BR>\n" );
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document.write( "Value after k years = (0.80x)(0.92)^(k-1)<BR>\n" );
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document.write( "Value after 6 years = (0.80x)(0.92)^5 = 12000<BR>\n" );
document.write( "Solve for \"x\"<BR>\n" );
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document.write( "(0.8x)(0.6590815) = 12000<BR>\n" );
document.write( "x = 12000/0.5272652<BR>\n" );
document.write( "x = $22,758.95<BR>\n" );
document.write( "=========================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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