SOLUTION: 1:A car loses one half of its value during first year of usage and thereafter loses 8% of its value in each year.calculate it's book value at the end of three year (gives its value

Algebra ->  Finance -> SOLUTION: 1:A car loses one half of its value during first year of usage and thereafter loses 8% of its value in each year.calculate it's book value at the end of three year (gives its value      Log On

At the end of the third year the book price will be 


    0.5*(1-0.08)*(1-0.08) = 0.5*0.92*0.92 = 0.4232 of the original price,


or  42.32%  of the original price.    ANSWER