The value of a car decreases by 20 percent per year mr sing purchases a 22000 automobile what is the value of the car at the end of the second year

Answer 1

To calculate the value of the car at the end of the second year, we need to find 80% of 80% of the original value.

After the first year, the car is worth 80% of $22,000: 0.8 * $22,000 = $17,600.

After the second year, the car is worth 80% of $17,600: 0.8 * $17,600 = $14,080.

Therefore, the value of the car at the end of the second year is $14,080.