Question 1117408
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The value of a new car purchased for $78,000 depreciates at a rate of 15% in the first year and 4% every year after that.
a) Determine the value of the car at the end of the year, the second year and the third year. Write these values as a sequence.
b) Determine the explicit formula for the value of the end on year n. 
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{{{78000-(15/100)(78000)}}} after the first year.



{{{66300*(1-0.04)=63648}}} after the second year.


{{{63648*(1-0.04)=61102.08}}} after the third year.