In the year 2003, a person bought a new car for $18500. For each consecutive year after that, the value of the car depreciated b
y 12%. How much would the car be worth in the year 2005, to the nearest hundred dollars?
2 answers:
Answer:
$14300.00
Step-by-step explanation:
100 - 12 = 88%
88% = 0.88
$18500 x 0.88² = $14326.40
To the nearest hundread:
$14326.40 = $14300.00
0.88² means to the power of 2 since it is 2 consecutive years I did to the power of 2. If it was 3 consecutive years then you do 0.88³.
Hope this helps!
Answer:
Step-by-step explanation:
t is the number of years since 2003.
f(t) = $18,500×0.88^t
t = 2 in 2005
f(2) = $18,500×0.88²≅ $14,300
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