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MATH

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NEED EXTREME HELP!@#$%^a rule of thumb used by car dealers is that the trade in value of a car decreases by 20% of its value each year. suppose the initial value of your car is $23,500. write an equation expressing the trade in value of your car as a function of the number of years from now. if your car is really 2.7 years old now, what was its trade in value when it was new?

*Is the answer $42,926.44?

  • MATH - ,

    V = Vo - Vo*r*t = $23,500.
    Vo - Vo*0.2*2.7 = 23500
    Vo - 0.54Vo = 23500
    0.46Vo = 23500
    Vo = $51086.96 = Trade-in value when new.

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