Answer to Question #204375 in Algebra for Arvin Shopon

Question #204375

The value of a used car is now 5,600 euros. What was the value of the car three years ago when it has dropped 16% annually?

Expert's answer

Let $A_0=$ the value of the car three years ago.

Then

A_3=A_0(1-0.16)^3=5600

A_0=\dfrac{5600}{(0.84)^3}=9448.22

The value of the car three years ago was 9448.22 euros.

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