Question

A car enthusiast where is there a particular model of car which cost $50,000 new loses 10% of its value every year how much will the car be worth in five years

Answer 1

Answer:

$29,524.50

Step-by-step explanation:

since it is every year, the equation would be:

y= A(1-(r/n))^nt

when you plug in the given numbers, you get:

y= 50,000(1-.10)^5

since its value decreases every year, the "n" would be 1.