A car purchased for $17,500. After each year the resale value decreases by 20%. What will the resale value be after 4 years? Round to the nearest dollar

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asked May 28, 2019 152k views

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Chroman · Answer 1 · 2019-06-03T01:47:43+0000

The value at the end of the year is 100% - 20% = 0.80 of the value at the beginning of the year. After 4 years of multiplying by this factor, the value is
$17,500·0.80⁴ = $7,168

A car purchased for $17,500. After each year the resale value decreases by 20%. What will the resale value be after 4 years? Round to the nearest dollar

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