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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 :

Helenbeastieidn

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

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