SOLUTION: A bicycle costs 950 dollars. Its value decreases 5% every year due to usage. What will be its price after a year?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: A bicycle costs 950 dollars. Its value decreases 5% every year due to usage. What will be its price after a year?      Log On


   

Question 319335: A bicycle costs 950 dollars. Its value decreases 5% every year due to usage. What will be its price after a year?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
If the value decreases 5%, then it's worth 95% of the original price.
V=%2895%2F100%29%2A950
V=902.5
.
.
.
$902.50