Question

1. A car is worth $50,000 brand new and it will lose 10% of its value each year. At this rate how much
will the car be worth after 10 years?

Answer 1

Answer:

≈$17,433.92 (17433.922005 to be exact)

Step-by-step explanation:

If the car loses 10% of its value each year, in $n$ years it's value will be $50,000*(0.9)^n$. Thus, in 10 years, the car's value will be $50,000*(0.9)^{10}$ which is 17433.922005 (approximately $17,434.92).

Hope this helps :)