Homework Help: Math

Posted by Crystal on Monday, November 12, 2012 at 5:27pm.

The value of a car after it is purchased depreciates according to the formula v(n)=28000(0.875)^n where v(n) is the car's value in the nth year since it was purchased. How much value does it lose in its fifth year?
The answer is $2052 but I don't see how; please explain how to get all the answers and all your steps! I have a test tomorrow

Math - Steve, Monday, November 12, 2012 at 5:32pm
just figure its worth after 5 years, and subtract from what it was worth after 4 years. That's how much it lost in the 5th year.

v(5) = 28000(.875^5)
v(4) = 28000(.875^4)

v(4)-v(5) = 28000(.875^4 - .875^5) = 2051.64
Math - Crystal, Monday, November 12, 2012 at 5:41pm
Ohh! Oh my goodness, thank you! I was subtracting it from the initial value (28000) this whole time and couldn't figure out what I was doing wrong. Thank you!!

Answer this Question

Related Questions

Advanced Functions - he value of a new car depreciates at a rate of 12% per year...
math - Magnus purchased a car for $35,865. It depreciates about 3.6% each year. ...
Calculus - After t years, the value of a car that originally cost $16,000 ...
Algebra - The value of many things we own depreciates over time. When an asset&#...
Algebra - The value of almost everything you own, such as a car, computer, or ...
Math (difficult) - The value of a new car purchased for $28,000 decreases 8% per...
math-functions - A car purchased for $11900 has a resale value of $2000 after 10...
math - Not to sure of how to make reasonable graph for this question. A car was ...
math - Daniel's print shop purchased a ner printer for $35000. Each year it ...
math word fu - A new car worth 45K is depreciating in value by 5K per year. How ...

For Further Reading

First Name:
School Subject:
Answer: