Tyler bought a car that depreciates 3.7% each year. If Tyler purchased the car for $21,450 five years ago, what is the value of the car now?

$17,764.73

$20,656.35

$21,121.35

$25,722.97

Question

Tyler bought a car that depreciates 3.7% each year. If Tyler purchased the car for $21,450 five years ago, what is the value of the car now?

 $17,764.73

 $20,656.35

 $21,121.35

 $25,722.97

agent0smith · Answer

since it' goes down 3.7% each year, it'll have 96.3 percent of it's value after each year... so I'm guessing it's something like $$\Large 21450*0.963^5$$(convert 96.3% to 0.963)

anonymous · Answer

I got 1780 :(

agent0smith · Answer

show your work, because... http://www.wolframalpha.com/input/?i=21450*0.963%5E5

anonymous · Answer

ohhhhh I typed in my calculator 2150 instead of 21450 haha I got it now its 17764