The value of a car decreases by 20 percent per year. Mr. Sing purchases a $22,000 automobile. What is the value of the car at the end of the second year?
$14,080
$17,600
$19,800
$26,400
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1
Answer:
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Answer:
Present value of the car ( x ) = Rs22,000
Annually decrease of the value = d = 20%
Car valueafter 2 years
= present value × ( 100 - d)/100 × (100 - d )/100
= 22000× ( 100 - 20 )/100× ( 100 - 20 )/100
= ( 22000 × 80 × 80)/ ( 100 × 100 )
= Rs 140,800,000
Value of the cat after 2 years = Rs 140,800,000
Step-by-step explanation:
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