Assume a new car costs £20k and loses 20% of its value every year. How much is it worth after 5 years?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CT: Chapter Test
Problem 13CT
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Assume a new car costs £20k and loses 20% of its value every year. How much is it worth after 5
years?
Transcribed Image Text:Assume a new car costs £20k and loses 20% of its value every year. How much is it worth after 5 years?
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