document.write( "Question 551067: a new car depreciates by 20% in its first year. Each succeeding year it depreciates by 10%. Assume the car is still in good working condition after 10 years. If the car costs $25000, calculate te value of the car after 10 years. Express your answer to the nearest $10 \n" ); document.write( "

Algebra.Com's Answer #359496 by mathstutor458(57) $\"\"$ $\"About$

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the car costs $25000
\n" ); document.write( "car depreciates by 20% in its first year=0.2
\n" ); document.write( "means car value after first year = 25000 * (1-0.2)= 25000 * 0.8
\n" ); document.write( "Each succeeding year it depreciates by 10% = 10/100 =0.1
\n" ); document.write( "car value after second year = 25000 * 0.8 * (1-0.1)= 25000 * 0.8* 0.9
\n" ); document.write( "Each succeeding year it depreciates by 10% ,
\n" ); document.write( "So,
\n" ); document.write( "car value after 10 years = 25000 * 0.8 * (0.9)^9 (one year = 0.8,all the nine years=0.9, so i write (0.9)^9)
\n" ); document.write( "=$7,748.41------>answer
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