A car has an initial value of 20,000 the value then depreciates or decreases by 10% of in initial value each year which equation below gives the value of the car

1 answer
Question:

A car has an initial value of 20,000 the value then depreciates or decreases by 10% of in initial value each year which equation below gives the value of the car

Answers

Given:Initial value of car = 20,000Depreciation or decreasing rate = 10% = 0.10To find:The equation that gives the value of the car.Solution:It is given that the value then depreciates or decreases by 10% of in initial value each year. It means the depreciation value is same for each year, i.e., 10% of initial value.[tex]10%\text{ of }20000=\dfrac{10}{100}\times 20000[/tex][tex]10%\text{ of }20000=2000[/tex]So, the value of car decreased by 2000 per year.Let y be the value of can after x years.Then, the value decreased in x years is 2000x.So, the values of the car is[tex]y=20000-2000x[/tex]Therefore, the required equation is [tex]y=20000-2000x[/tex].

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