Question

The original purchase price of a car is $25,000. Each year, its value depreciates by 13%. Three years after its purchase, what is the value of the car?

Answer 1

to decrease a number by \(13\%\) multiply it by \(1-.13=.87\)
to do it three times in a row, multiply it by \(.87^3\)

Answer 2

i.e with a calculator, compute
\[25,000\times .87^3\]

Answer 3

$16,462.58

Answer 4

that is what i get as well