Question 185216
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We can give a formula,{{{Y=P-3000(X)}}}
where{{{system(Y=Value_after_X_years,P=Present_Value,X=Number of_Years)}}}
After 1 year:
{{{Y=24000-3000(1)=24000-3000}}}=$21,000.00
After 2 years:
{{{Y=24000-3000(2)=24000-6000}}}=$18,000.00
After 3 years:
{{{Y=24000-3000(3)=24000-9000}}}=$15,000.00
And so forth....
*Note: After "8" years, I think it's about time to buy a NEW car. Substitute X=8 and see why?
Thank you,
Jojo</pre>