Asked by rio

a new car depreciated by 20% in its first year. each succeeding year it depreciated by 10% assume the car is still in good working condition after 10 years. if the car costs $25,000 calculate the value of the car after 10 years. express your answer to the nearest $10.

please help and show me your steps in working out this equation
Answered by Reiny
After the first year the value is
25000(.8) = 20000

so after the next 9 years depreciating at 10% would leave
20000(.9)^9
7748.41 or 7750
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