A car is purchased for US$24.000. After each year, the resale value decreases by 20%. What will the resale value be after 4 years?
Question
Solution 1
Sure, let's break it down step by step.

Initial Value: The car is purchased for US$24,000.

Annual Depreciation: The resale value decreases by 20% each year. This means the car retains 80% of its value each year.

First Year:
 Resale value after 1 year = Initial value × 0.8 Knowee AI is a powerful AIpowered study tool designed to help you to solve study problem.
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Knowee AI is a powerful AIpowered study tool designed to help you to solve study problem.
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