A car purchased for $17,500. After each year the resale value decreases by 20%. What will the resale value be after 4 years? Rou

Question

Naddika [18.5K]

3 years ago

13

A car purchased for $17,500. After each year the resale value decreases by 20%. What will the resale value be after 4 years? Rou

nd to the nearest dollar

Mathematics

1 answer:

Tema [17] · Answer 1 · 2022-01-19T00:37:28+03:00

Tema [17]3 years ago

3 0

The value at the end of the year is 100% - 20% = 0.80 of the value at the beginning of the year. After 4 years of multiplying by this factor, the value is
$17,500·0.80⁴ = $7,168