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

≈$17,433.92 (17433.922005 to be exact)

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 :)