Question

A car was purchased for $12,000 today, it will be worth 8% less each year For what can you expect to sell the car for at the end of 5 years?

Answer 1

Use the equation
\(C=I(1-r)^t\)
I being initial value, r being the rate and t being time

Answer 2

I understand that but would 8% = 0.08?

Answer 3

Right

Answer 4

ok thank you @dude

Answer 5

:D