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2 September, 14:11

The value of a new car purchased for $24,950 decreases each year by 12%. How much will the car be worth in 7 years?

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  1. 2 September, 14:20
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    Answers:

    After 7 years the car is worth $10,196 (,46)

    Explanation:

    Year 1: $24,950•0,88=21,956

    Year 2: $21,956•0,88=19,321 (,28)

    Year 3: $19,321 (,28) •0,88=17,002 (,73)

    Year 4: $17,002 (,73) •0,88=14,962 (,40)

    Year 5: $14,962 (,40) •0,88=13,166 (,91)

    Year 6: $13,166 (,91) •0,88=11,586 (,88)

    Year 7: $11,586 (,88) •0,88=10,196 (,46)
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