Ben buys a car for $50,000. The value of the car decreases at a rate of 4% per year. How much will the car be worth in 3 years?

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03-08-2015
Mathematics

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Ben buys a car for $50,000. The value of the car decreases at a rate of 4% per year. How much will the car be worth in 3 years?

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doss370 doss370 · Answer 1 · 2015-08-03T20:11:21+02:00

doss370 doss370

03-08-2015

FOR THE FIRST YEAR
4/100×50000 = 2000
50,000 - 2000 = 48000
FOR THE SECOND YEAR
4/100 × 48000 = 1920
48000-1920 = 46080
FOR THE THIRD YEAR
4/100 × 46080 = 1843.2
46080-1843.2 = 44236.2

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