A car Purchased for $18,500. After each year, the resale value decreases by 30%. What will the resale value be after 4 years

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asked Jul 14, 2017 91.1k views

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Jacek Wysocki · Answer 1 · 2017-07-21T17:23:30+0000

Two methods presented. The first is shown as a proof and the second the quicker way with the formula of A = Pr^t
A = amount of money
P = Principle amount
r = annual rate of interest
t = number of years

A car Purchased for $18,500. After each year, the resale value decreases by 30%. What-example-1

A car Purchased for $18,500. After each year, the resale value decreases by 30%. What will the resale value be after 4 years

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