Question

I give medals!!!

A student bought a car for $8000. The value of the car depreciates by 20% per year. What is the value of
the car after 3 years of depreciation?

Answer 1

A = P( 1 - r) ^t p is starting value, in this case 8000
r is rate value goes down each year, make it decimal ie
i.e. 20% = .20
t is the number of years, in this case 3