Here are some basic formulas you might use to help you solve the following problems.
y = a(1 +r) y = a(1 - 1) A = P(1 + )"
Suppose that a car has a value of $30,000 when it is purchased, and
decreases in value by 20% per year.
After how many years will the car be worth less than $5,000? Round to
the nearest year.