SOLUTION: Glenn bought a car for Php600,000. The yearly depreciation of his car is 10% of its value at the start of the year. What is its value after 4 years?

SOLUTION: Glenn bought a car for Php600,000. The yearly depreciation of his car is 10% of its value at the start of the year. What is its value after 4 years?

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Question 981786: Glenn bought a car for Php600,000. The yearly depreciation of his car is
10% of its value at the start of the year. What is its value after 4 years?
Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
Hi there,
100% - 10% = 90%
90% = 90/100 = 0.9
This is your depreciation factor
the power it is raised to is the number of years = 4
Php 600,000 x 0.9^4
= Php 393660
Hope this helps:-)
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