Answer:
$8874
Step-by-step explanation:
At the end of the first year, Terrence's car depreciated by 15%. We can calculate the resulting value with the expression ($20,000)(1 - 0.15) = $17000. The end of the second year is another 15% reduction, on the already lower value. For x years, we can write an expression that gives the new value at the end of the year:
f(x) ($20,000)(1 - 0.15)^x
After 5 years the new value would be ($20,000)(1 - 0.15)^5
($20,000)(1 - 0.15)^5 = 8874.11 or $8874
