SOLUTION: A car is purchased for $27,000. After each year, the resale value decreases by 25%. What will the resale value be after 3 years? Round the answer to the nearest dollar.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: A car is purchased for $27,000. After each year, the resale value decreases by 25%. What will the resale value be after 3 years? Round the answer to the nearest dollar.       Log On


   

Question 1107825: A car is purchased for $27,000. After each year, the resale value decreases by 25%. What will the resale value be after 3 years? Round the answer to the nearest dollar.

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
After 1 yr the value is:
+V+=+27000%2A%28+1+-+.25+%29%5E1+
After 2 yrs the value is:
+V+=+27000%2A%28+1+-+.25+%29%5E2+
After 3 yrs, the value is:
+V+=+27000%2A%28+1+-+.25+%29%5E3+
You can calculate