If the trailer decreases every 10% per year, we will multiply 29,000 by 0.1
10% in decimal form is 0.1
So every year until the 4th year we will multiply that number by 0.1
If we do 29,000x0.1 we’ll get 2,900 that’s year 1
Year 2: 2,900x0.1=290
Year 3: 290x0.1=2.90
Year 4: 2.90x0.1=0.29 which is 29 cents
We can simplify this process by doing
29,000x0.1^4
29,000 is the initial value
0.1 is how much it will decrease
And the 4 is how many times we will repeat this, basically the years