Question

A family buys a car for $20,000. The value of the car decreases about 20% per year. After 6 years, the family decides to sell the car. Should they sell it for $4,000? Explain.​

Answer 1

No

Explanation:

The car starts at 20 000

After 1 year, it's worth 18 000

After 2 years, it's worth 14 400

After 3 years, it's worth 11 600

After 4 years, it's worth 9 280

After 5 years, it's worth 7 424

After 6 years, it's worth 5 975.20

No, the family should not sell the car for 4000