A car depreciates in value by 15% for the first year and for each year later by 12% of its value at the beginning of that year. Calculate the percentage decrease in the value of the car after 3 years.

Question

Could someone please confirm the answer to be 38.048 because that,s what i got but i don,t have the answers thanks

Answer 1

value is .85 * .88 * .88 = 0.6582

so, it has lost 34.18%

Looks like you'd better show your work, huh?

Answer 2

Ohh I got it wrong but I'm sorry for not showing my working. I understand it now thanks for showing.