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k0ka [10]
2 years ago
12

A new car sells for $25,000. The value of the car decreases by 15% each year. What is the approximate value of the car 5 years a

fter it is purchased?
Mathematics
2 answers:
grin007 [14]2 years ago
8 0
The answer is $11,092.63.

This could be calculated using the proportion. If the value of the car decreases by 15% each year, that means that after each year the value of the car is 85% of the value from the first year.

After 1st year:
$25,000 : 100% = x1 : 85%
x1 = $25,000 · 85% ÷ 100%
x1 = <span>$21,250

After 2nd year:
</span>$21,250 : 100% = x2 : 85%
x2 = $21,250 · 85% ÷ 100%
x2 = <span>$18,062.5
</span>
After 3rd year:
$18,062.5 : 100% = x3 : 85%
x3 = $18,062.5 · 85% ÷ 100%
x3 = $15,353.12

After 4th year:
$15,353.12 : 100% = x4 : 85%
x4 = $15,353.12 · 85% ÷ 100%
x4 = $13,050.15

After 5th year:
$13,050.15 : 100% = x5 : 85%
x5 = $13,050.15 · 85% ÷ 100%
x5 = $11,092.63

Therefore, the value of the car 5 years after it is purchased is <span>$11,092.63.</span>
olga_2 [115]2 years ago
5 0

Answer:

Option A on edg

Step-by-step explanation:

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