Write equations to solve each of the following problems. Homework Help ✎
When the Gleo Retro (a trendy commuter car) is brand new, it costs $23,500. Each year it loses 15% of its value. What will the car be worth when it is 15 years old?
Each year the population of Algeland increases by 12%. The population is currently 14,365,112. What will the population be 20 years from now?
y = 23500 · (0.85)x
y = 14,365,112 · (1.12)x