SOLUTION: An automobile purchased for $3,000 depreciates in value 12% every year. Finds its value at the end of 5 years.

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Question 211764This question is from textbook COLLEGE ALGEBRA
: An automobile purchased for $3,000 depreciates in value 12% every year. Finds its value at the end of 5 years. This question is from textbook COLLEGE ALGEBRA

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
3,000(1-.12)^5
3,000(.88)^5
3,000*.5277=$1,583.20 is the value of the car after 5 years.