Dave bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today?

Answer 1

10% = 10 / 100 = 0.1

Write an equation that show the cost of the car C, at year t.

C = 24000 ( 1 - 0.1 ) ᵗ

C = 24000 ∙ 0.9 ᵗ

Today car worth:

C = 24000 ∙ 0.9¹⁰

C = $8368.28