To calculate: An amount a new car will be worth after 10 years, if it is sold for
Answer to Problem 15CT
Solution:
A new car will be worth
Explanation of Solution
Given information:
A new car is sold for
Formula used:
Calculation:
As new car loses
Thus yearly values of the car form a geometric series.
Thus nth term,
The nth term in the formula gives the value of the car in the beginning of the year.
For the value of the car after 10 years,
Thus,
Therefore, a new car will be worth
Chapter 12 Solutions
Precalculus
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