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1 October, 10:31

A car is purchased for $25,500. After each year, the resale value decreases by 35%. What will the resale value be after 4 years?

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Answers (2)
  1. 1 October, 11:27
    0
    4551.91

    Step-by-step explanation:

    Every year, the value goes down to 65% of what it was the previous year. (100-35 = 65)

    25,500 x. 65 = 16,575 (1 year)

    16,575 x. 65 = 10,773.75 (2 years)

    10,773.75 x. 65 = 7,002.94 (3 years)

    7,002.94 x. 65 = 4551.91 (Final year)

    The end price is 4551.91
  2. 1 October, 14:02
    0
    The resale value after four years will be $4,552

    Step-by-step explanation:

    Year one:

    35% of $25,500 = $8,925

    $25,500 - $8,925 = $16,575

    Year two:

    35% of $16,575 = $5,801.25

    $16,575 - $5,801.25 = $10,773.75

    Year three:

    35% of $10,773.75 = $3,770.8125

    $10,773.75 - $3,770.8125 = $7,002.9375

    Year four:

    35% of $7,002.9375 = $2,451.028125

    $7,002.9375 - $2,451.028125 = $4,551.909375

    Round if allowed/needed:

    Thousandth place: $4,551.909

    Hundredth place: $4,551.91

    Tenth place: $4,551.91

    Nearest whole number: $4,552
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