SOLUTION: 1:A car loses one half of its value during first year of usage and thereafter loses 8% of its value in each year.calculate it's book value at the end of three year (gives its value

Question 1188433: 1:A car loses one half of its value during first year of usage and thereafter loses 8% of its value in each year.calculate it's book value at the end of three year (gives its value as the percentage of original value)
Answer by ikleyn(52832) (Show Source): You can put this solution on YOUR website!
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At the end of the third year the book price will be 


    0.5*(1-0.08)*(1-0.08) = 0.5*0.92*0.92 = 0.4232 of the original price,


or  42.32%  of the original price.    ANSWER

Solved, answered and explained.

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