In the year 2008, a person bought a new car for $17000. For each consecutive year after that, the value of the car depreciated by 8%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

Question

Davian Conway

Mathematics

21 May, 20:08

In the year 2008, a person bought a new car for $17000. For each consecutive year after that, the value of the car depreciated by 8%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

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Answers (1)

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Sophia Vasquez · Answer 1

Step-by-step explanation:

This is a simple exponential equation:

cost=17000*0.92^ (years after 2008)

so since 2011-2008 yields 3

it will be 3 years after 2008, so

cost = 17000 * 0.92^3

$13,237.69