SOLUTION: The value of a new car purchased for $78,000 depreciates at a rate of 15% in the first year and 4% every year after that. a) Determine the value of the car at the end of the year,

Question 1117408: The value of a new car purchased for $78,000 depreciates at a rate of 15% in the first year and 4% every year after that.
a) Determine the value of the car at the end of the year, the second year and the third year. Write these values as a sequence.
b) Determine the explicit formula for the value of the end on year n.
c) What is the value of the car at the end of year 20?
Answer by josgarithmetic(39618) (Show Source): You can put this solution on YOUR website!
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The value of a new car purchased for $78,000 depreciates at a rate of 15% in the first year and 4% every year after that.
a) Determine the value of the car at the end of the year, the second year and the third year. Write these values as a sequence.
b) Determine the explicit formula for the value of the end on year n.
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after the first year.

after the second year.

after the third year.
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