Question

In the year 2008, a person bought a new car for $23500. For each consecutive year after that, the value of the car depreciated by 10%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

Answer 1

$17131.50

Explanation:

23500 decrease 10% =

23500 × (1 - 10%) = 23500 × (1 - 0.1) = 21150

21150 decrease 10% =

21150 × (1 - 10%) = 21150 × (1 - 0.1) = 19035

19035 decrease 10% =

19035 × (1 - 10%) = 19035 × (1 - 0.1) = 17131.5