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 5 years later?

$84
$119
$164
$222

Answer 1

$500 x 0.85 = 425
$425 x 0.85 = 361.25
$361.25 x 0.85 = 307.10
$307.1 x 0.85 = 261
$261 x 0.85 = 221.85