Arithmetic Sequences Word Problem?
Carla pays $19,000 for a new car. She knows that it will be worth 20% less each year than the previous year. What can she expect the car to be worth after 5 years?
I was given the formula tn=t1 * r^n-1. THANKS
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Verified answer
Decay function
Y=P(1-r)^t
Y=19000(1-.20)^5
y=19000(.8)^5
y= (work this out)