Answered

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In the year 2001, a person bought a new car for $15500. For each consecutive year after that, the value of the car depreciated by 5%. How much would the car be worth in the year 2005, to the nearest hundred dollars?

Sagot :

Francocanacariidn

Answer:

$12,000.

Step-by-step explanation:

Given that in the year 2001, a person bought a new car for $ 15500, and for each consecutive year after that, the value of the car depreciated by 5%, to determine how much would the car be worth in the year 2005, to the nearest hundred dollars, the following calculation must be performed:

100-5 = 95

15,500 x 0.95 x 0.95 x 0.95 x 0.95 x 0.95 = X

14.725 x 0.95 x 0.95 x 0.95 x 0.95 = X

13,988.75 x 0.95 x 0.95 x 0.95 = X

13,289.3125 x 0.95 x 0.95 = X

12,624.846875 x 0.95 = X

11.993.60453125 = X

Thus, to the nearest hundred dollars, the cost of the car after 5 years will be $ 12,000.

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