SOLUTION: A new car valued at $26,000 depriciates at a rate of 10% per year. How much will the car be worth (a) when it's 8 years old. (b) when it's 9 years old. This is a question on m

Algebra ->  Sequences-and-series -> SOLUTION: A new car valued at $26,000 depriciates at a rate of 10% per year. How much will the car be worth (a) when it's 8 years old. (b) when it's 9 years old. This is a question on m      Log On


   

Question 606802: A new car valued at $26,000 depriciates at a rate of 10% per year. How much will the car be worth (a) when it's 8 years old. (b) when it's 9 years old.
This is a question on my geometric sequences assignment. I don't have any examples of this in my notebook and I can't really figure out how to solve it using the rules of geometric sequences. Could anyone explain how to solve it to me please?
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
the value of the car next year, is 90% (100% - 10%) of this year's value

so the ratio of the terms in the g. sequence is .9

at 8 yrs ___ value = $26,000 * .9^8 (similarly for 9 yrs)