Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

A car is purchased for S15,500. After each year, the resale value decreases by 20%. What will the resale value be after 3 years?
Use the calculator provided and round your answer to the nearest dollar


Sagot :

Answer:

3 years -> value decreases by 20% 3 times

20% -> value is 80% of the original price

1st year value (after 20% decrease) = S15,500×[tex]\frac{80}{100}[/tex]

                                                           = S12,400

2nd year value (after 20% decrease) = S12,400×[tex]\frac{80}{100}[/tex]

                                                             = S9,920

3rd year value (after 20% decrease) = S9,920×[tex]\frac{80}{100}[/tex]

                                                            = S7,936