SOLUTION: Susan bought a car at age 16 for 8500 dolllars. If the value of the car decreases by 6% per year, how much will it be worth when she is 21 years old?

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Question 1063126: Susan bought a car at age 16 for 8500 dolllars. If the value of the car decreases by 6% per year, how much will it be worth when she is 21 years old?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+A+=+P%2A%28+1+-+r+%29%5Et+
+P+=+8500+
+r+=+.06+
+t+=+5+ yrs
+A+=+8500%2A%28+1+-+.06+%29%5E5+
+A+=+8500%2A.94%5E5+
+A+=+8500%2A.7339+
+A+=+6238.18+
It will be worth $6,238.18 when she is 21