SOLUTION: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years? Round to the nearest dollar.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years? Round to the nearest dollar.       Log On


   



Question 1030477: A car is purchased for 29,500. After each year, the resale value is decreases by 20%. What will the resale value be after 3 years?
Round to the nearest dollar.

Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
This one is found this way...
P(3) = P(0)*(.80)^3 = 29500*(.80)^3 = $15104