A car is purchased for $27,500. After each year, the resale value decreases by 35%. What will the resale value be after 5 years?
2 answers:
Answer:
≈ $ 3190
Step-by-step explanation:
What will the resale value be after 5 years ?
$27500 x (1 - 0.35) x 5 =
= $27500 x 0.65⁵
= $27500 x (≈ 0.116)
≈ $ 3190
Answer:
$3,190.80
Step-by-step explanation:
yr 1:
27500 x .35 = 9625
27500 - 9625 = 17875
yr 2:
17875 x .35 = 6256.25
17875 - 6256.25 = 11618.75
yr 3:
11618.75 x .35 = 4066.5625
11618.75 - 4066.5625 = 7552.1875
yr 4:
7552.1875 x .35 = 2643.265625
7552.1875 - 2643.265625 = 4908.921875
yr 5:
4908.921875 x .35 = 1718.12265625
4908.921875 - 1718.12265625 = 3190.79921875
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