MTH 220 Week 4 An application of a geometric sequence

Suppose you buy a new car for $18,000. At the end of n years, the value of your car is given by the sequence vn = 18000(3/4)n, n = 1, 2, 3, …..Find the fifth term and explain what this value represents. Describe the nth term of the sequence in terms of the value of your car at the end of each year.