Question

The value of a dirt bike decreases by 15% each year. If you purchased this dirt bike today for $500, to the nearest dollar how much would the bike be worth five years later? $84 $119 $164 $222

Answer 1

The answer is 222

All you do is multiply 500 by 0.15, which gives you 75. Then subtract that from 500 to give you 425. Now multiply this 425 by 0.15 then subtract the product form 425. Continue this process until it is done 5 times. Your answer on the fifth time will be your answer.

Answer 2

It would be $222.
500*.15=75. 500-75=425
425*.15=63.75. 425-63.75=361.25
361.25*.15=54.19. 361.25-54.19=307.06
307.06*.15=46.06. 307.06-46.06=261
261*.15=39.15. 261-39.15=221.85
Round up to $222