Question

what equation do I use for this question
The origional purchase price of a car is 12000 each year its value depreciates by 5%. Three years after its purchasewhat is the value of the car?

Answer 1

to decrease a number by \(5\%\) multiply it by \(100\%-5\%=95\%=0.95\)
to do it three times multiply it by \((0.95)^3\)

Answer 2

wouldnt the equation just be 12000^-0.05

Answer 3

12000^-0.05(3)