The average depreciation in value of a new car is 20%at the end of the first year. The depreciation rate then drops to 10% yearly for the next four years. Suppose that after one year, a car that was purchased new is worth $27,560 after the initial depreciation. What is the value of the car four years later?

The average depreciation in value of a new car is 20%at the end of the first year. The depreciation rate then drops to 10% yearly for the next four years. Suppose that after one year, a car that was purchased new is worth $27,560 after the initial depreciation. What is the value of the car four years later?

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...

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