Question

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Finding a final amount in a word problem on exponential growth or decay

A car is purchased for $23,500. After each year, the resale value decreases by 35%. What will the resale value be after 4 years?
Use the calculator provided and round your answer to the nearest dollar.

Answer 1

Answer:

$4,195

Step-by-step explanation:

a = 23,500(1 - .35)^4

a =23,500(.65)^4

a = 4,195