# Joshua just purchased a 4-year-old car for $12,000. He was told that this make and model depreciates exponentially at a rate of 5.8% per year. What was the original price to the nearest hundred dollars?

##### 2 Answers

Feb 27, 2018

#### Explanation:

After 4 years, the car is worth

Work backwards.

Original:

to nearest

-Fish

Feb 27, 2018

Write an equation to satisfy the word problem:

Solve:

The price was approximately