SOLUTION: Suppose that an automobile loses 1/5 of its value each year, that is at the end of a given year, the value is 4/5 of the value at the begging of that year. If a car cost 19000 new,
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Question 517098: Suppose that an automobile loses 1/5 of its value each year, that is at the end of a given year, the value is 4/5 of the value at the begging of that year. If a car cost 19000 new, what is the value at the end of five years? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let , the cost when new
Let = the current value
At end of 1st year:
At end of 2nd year:
At end of 3rd year:
At end of 4th year:
At the end of the 5th year:
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This is the same as
The value after 5 years is $6,225.92
