Question

Mohamed purchased a car for $30,000. It deprecates by 25% of its current value every year. How much will the car be worth 3 years after it is purchased?

Answer 1

$12,656.25

Explanation:

year 1: 30,000-25%=22,500

year 2: 25,000-25%=16,875

year 3: 16,875-25%=12,656.25