a family buys a car for $20,000. the value of the car decreases about 20% each year. after 6 years, the family decides to sell t

Question

aliina [53]

3 years ago

6

a family buys a car for $20,000. the value of the car decreases about 20% each year. after 6 years, the family decides to sell t

he car. should they sell it for $4000?

Mathematics

2 answers:

Neporo4naja [7] · Answer 1 · 2022-02-28T12:54:51+03:00

Neporo4naja [7]3 years ago

7 0

No, the car is losing value not gaining it.

il63 [147K] · Answer 2 · 2022-02-28T14:40:49+03:00

Actually heres the breakdown...
year 1 20,000
year 2 decreased 20% is 16,666
year 3 decreased 20% is 13,888
year 4 decreased 20% is 11,574
year 5 decreased 20% is 9,645
year 6 decreased 20% is 8,037
so selling it for $4000 is a major loss on their end so they should NOT sell at that price.