algebra 1

Solve the following problem:
Kate bought a car for $20,000. A study shows that a car will depreciate (go DOWN in value) by 15% each year. How much is Kate's car worth after 5 years?

a) Formula used: ___________________________________

b) Substitute values: _________________________________

c) Final answer: _____________________________________

d) Does this final answer make sense compared to the original cost of the car? Why?

e) DESCRIBE (using a complete sentence or two) how you can solve this problem graphically.

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asked by hello
  1. please help asap!!!!

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    posted by hello
  2. Since you are taking off 15% each year, at the end of each your you will have 85% or .85 of the previous years amount.

    so after 5 years:
    20000(.85)^5
    = ...

    plug in your answers where needed.

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    posted by Reiny
  3. right so whats the formula?

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    posted by hello

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