Question

The value of a car decreases by 20% per year Mr. Singh for purchase is a $22,000 automobile what is the value of the car the end of the second year

Answer 1

Answer: the answer is $26,400

Explanation:

Answer 2

`\bf \qquad \textit{Amount for Exponential Decay}\\\\ A=I(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ I=\textit{initial amount}\to &22000\\ r=rate\to 20\%\to (20)/(100)\to &0.20\\ t=\textit{elapsed time}\to &2\\ \end{cases} \\\\\\ A=22000(1-0.2)^2`