# Thread: Help!

1. ## Help!

Ok heres the question I am brain blocked

Suppose you bought a car in the mid 2006 for $10,000. if its value depreciates steadily at 12% per year what will its value be in mis 2009? Also: What is the annual rate of increase of the us population? could not find this anywhere....let me know if and where you can find it 2. Hello, Ashley! There is a formula for this situation, . . but you can talk your way through it . . . Suppose you bought a car in 2006 for$10,000.
If its value depreciates steadily at 12% per year
what will its value be in 2009?
Each year, the value is only 88% of the previous year's value.

In 2006, it was worth: .\$10,000.

In 2007, it was worth: . $0.88 \times \10,000 \:=\:\8,800$

In 2008, it was worth: . $0.88 \times \8,800 \:=\:\7,744$

In 2009, it is worth: . $0.88 \times \7,744 \:=\:\6,814.72$