exponentil fraction

[porterehd]

A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?

 

[skeeter]

How would you determine the value after ...

1 year?
2 years?
.
.
.
t years?

 

[porterehd]

10 years

 

[skeeter]

10 years

huh?

 

[Otis]

exponentil fraction

The value of the car depreciates at 13.5% per year.

Hi porterehd. You've posted on the Pre-Algebra board. Has your class been discussing exponential fractions? If so, then how do they define those?

Otherwise, do you know how to calculate (100-13.5)% of 17000 ?

 

[HallsofIvy]

If a car has value V and depreciates at a% per year (so a/100) then after one year its value has lowered by V(a/1000)= aV/100 so is now V- aV/100=(100V- aV)/100A= [(100- a)/100]V. That is, V has been multiplied by (100- a)/100. The second year, the same thing happens- its value, now [(100- a)/100]V, is again multiplied by (100- a)/100 so after the second year the value is [(100- a)/100]^2V.

The third you again multiply by (100- a)/100. What will the value be after the third year? The fourth year? Get the point?