check my answer please

Suppose you pay $16,000 for a new car and estimate that it will be worth 20% less with each passing year. What will your car be worth after 3 years?

Question

check my answer please

Suppose you pay $16,000 for a new car and estimate that it will be worth 20% less with each passing year. What will your car be worth after 3 years?

nesha97 · Answer

16000(.20)^3=128

betterthanvalentyn · Answer

shouldnt your equation be: 
16000(1-.20)^3?

nesha97 · Answer

oh I figured that when its suppose to be increase you add 1 because its a decimal so if I wanted it to decrease I thought then just use the decimal but I can see that my answer is wrong yea it should be 1- 0.2 thanks for point that out

nesha97 · Answer

so the answer would be 8192??

betterthanvalentyn · Answer

that amount should be correct unless im wrong...

nesha97 · Answer

thanks for the help

betterthanvalentyn · Answer

If any one else can verify that would be great...

betterthanvalentyn · Answer

no problem (if im correct lol)