Question

One servey estimates that on average the retail value of a mid sized car decreases by 8% annually if the retail value of a car is v dollars today which expression represents the cars value 1 year later?

Answer 1

The car's value one year later after a decrease of 8% is represented by the expression 0.92v, which is 92% of its current value v dollars.

Step-by-step explanation:

If the retail value of a car is v dollars today, and it decreases by 8% annually, we can represent the car's value one year later by calculating 8% of v and then subtracting that from v. To find 8% of v, we multiply v by 0.08. The expression for the car's value one year later is v - (0.08v) which simplifies to v(1 - 0.08), or 0.92v. Therefore, the car's value after one year is 92% of its current value.

Using an example, if the car's current value is $20,000, then one year later its value would be 0.92 x $20,000, which equals $18,400.