Question

A new car typically loses 20% of its initial value during the first year. During the second year, the car loses 15% of its value after the first year. Find the value of the car after the first year and after the second year.

Answer 1

What was the car's initial value?

Answer 2

remaining value after 1 year
= .8 or 80%
remaining value after 2 years
= .8(.85)
= .68 or 68%

Answer 3

I forgot to add that I'm sorry! I meant t o type Find the value of the car ($18,000)
so it's actually
A new car typically loses 20% of its initial value during the first year. During the second year, the car loses 15% of its value after the first year. Find the value of the car($18,000) after the first year and after the second year.

Answer 4

The answer would be 14880 dollars.

STEP BY STEP EXPLANATION:
- Loses 20% of its inital value:
18600*0.20
= 3720
18600-3720
= 14880!