Let's call the original value of the car "x".
After the first year, the car is worth 85% of its original value, or 0.85x.
After the second year, the car is worth 85% of its value after the first year, which is 0.85(0.85x) = 0.7225x.
We know that after two years, the car is worth $17,918:
0.7225x = $17,918
Solving for x:
x = $24,755
Therefore, the value of the car when it was purchased was $24,755.
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 purchased is $17,918, what was the value of the car when it was purchased?
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