the value of a car decreases by 20 percent per year. mr. sing purchases a $22,000 automobile. what is the…

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?\n$14,080\n$17,600\n$19,800\n$26,400

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?\n$14,080\n$17,600\n$19,800\n$26,400

Answer

Explanation:

Step1: Calculate value after first - year

The car's value decreases by 20% each year. The value of the car after the first year is 80% (or 0.8) of its original value. The original value of the car is $22000. So the value after the first year $V_1$ is $V_1 = 22000\times0.8$. $V_1=22000\times0.8 = 17600$.

Step2: Calculate value after second - year

The value of the car at the end of the second year is 80% of the value at the end of the first year. So the value $V_2$ is $V_2=V_1\times0.8$. Substitute $V_1 = 17600$ into the equation: $V_2=17600\times0.8$. $V_2 = 17600\times0.8=14080$.

Answer:

$14080$