Answer:
$6860.
Step-by-step explanation:
We have been given that at the start of 2014 Mike's car was worth $12000.The value of the car decreased by 30% every year.
We will exponent decay formula to solve our given problem.
, where,
y = Final value,
a = Initial value,
r = Decay rate in decimal form.
Initial value of car is $12000.
3 years from 2014 to 2017.
Therefore, the value of car at the start of year 2017 would be $6860.