Let's call the value of the car when it was bought "x".
After one year, the value of the car would be 0.85x (15% less than x).
After two years, the value of the car would be 0.85(0.85x) = 0.7225x (15% less than 0.85x).
We know that this value is equal to $17,918:
0.7225x = $17,918
To solve for x, we need to divide both sides by 0.7225:
x = $24,750
Therefore, the value of the car when it was bought was $24,750.
For each one-year period after a car was purchased, its value at the end of the year was 15% less than its value at the beginning of the year. If the value of the car 2 years after it was bought is $17,918, what was the value of the car when it was bought?
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