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A rule of thumb used by car dealers is that the trade-in value of a car decreases by 30% each year. That is, the value at the end of any year is 70% of its value at the beginning of the year

A.Suppose that you own a car whose trade-in value is presently $2350. How much will it be worth one year from now? Two years from now? Three years from now?

We learned to use the equation y=KM^x+b
I just don’t know what to plug in

  • math - ,

    According to the rule stated in your first paragraph,

    value at end of 1 year = 2350(.7) = ...
    value at end of 2 yrs = 2350(.7)^2 = ...
    value at end of 3 yrs. = 2350(.7)^3 = ...

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