Question

a new car cost $23,427 its value decreases by 34% each year.

Answer 1

The initial price of the car is: $23427 dollars, and each year it decrease by 34% that is the same that by 0.34 so the equation of the value of the car will be:

$y=23427\cdot(1-0.34)^x$

Where y is the final price of the car, and x are the year tha has benn pass, so in 6 years the price will be:

$y=23427\cdot(1-0.34)^6$

and we simplify the expression like:

$\begin{gathered} y=23427(0.66)^6 \\ y=23427\cdot(0.08) \\ y=1936.33 \end{gathered}$

the value in 6 years will be $1936.33 dollars