Question

Sam has purchased a $30,000 car for his business. the car depreciates 30% every year. car value goes down by that percent every year. what will be the value of the car after the 5th year. Note : car is 0 years old the first year is the secondary entry in the sequence. P.S Common ratio is 0.70

Answer 1

Answer:

$5042.1

Step-by-step explanation:

depriciated price of the car at the end of: 1 year is $30000×0.7=21000

2 year is $21000×0.7=15400

:

:

similarly

at the end of fifth year

30000×0.7^5=$5042.1