SOLUTION: Mr. Gong bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today? $ 1 693.63 $ 2

Algebra ->  Finance -> SOLUTION: Mr. Gong bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today? $ 1 693.63 $ 2      Log On


   



Question 1182213: Mr. Gong bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today?
$ 1 693.63
$ 2 400.00
$ 8 368.28
$ 0.24

Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
Mr. Gong bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today?
:
Car is worth 90% of the previous year
24000+%2A+.9%5E10+=+8368.28