Question

I first want to make it clear that I have only taken Geometry, Algebra I, and pre-Algebra. That seemed to clear things up last time.

Question:
Matt bought a car at the cost of 25,000 dollars. This car's value goes down 15% every year.
1. What is the decay factor?
2. Write the equation to model the decay factor.
3. What will the car be worth in 5 years?

Answer 1

If something decreases by 15%, then 85% would be left over.
equation:
value = 25000(.85)^t , where t is the number of years

so in 5 years, t - 5
value = 25000(.85)^5 = ......

Answer 2

Thank you c: