Question

QUICK HELP????
a car is purchased for $15,000. After each year, the resale value decreases by 35% . What will the resale value be after 4 years?

Answer 1

Answer:

about $2677.56

Step-by-step explanation:

15,000(0.65^4) = 2677.56

Answer 2

Answer:

$2677.6

Step-by-step explanation:

The car was purchased for $15000 so the resale amount is $15000. After year 1 the resale value will decrease by 35% up until year 4.

Year 1: 15000-15000*0.35 = $9750

Year 2: 9750-9750*0.35 = $6337.5

Year 3: 6337.5-6337.5*0.35=$4119.375

Year 4: 4119.375-4119.375*0.35=$2677.6

The resale price after 4 years will ne $2677.6