The value of a new car decreases by 35% in the first year. If a car costs $9,800 when new, how much less would it be worth at the end of the first year?
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Thanks!
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To find out how much less the car would be worth at the end of the first year, we need to calculate a 35% decrease in its value.
Step 1: Calculate the amount of decrease.
Multiply the original value of the car ($9,800) by the decimal equivalent of the percentage decrease (35% or 0.35):
$9,800 * 0.35 = $3,430
Step 2: Calculate the decreased value.
Subtract the amount of decrease from the original value:
$9,800 - $3,430 = $6,370
Therefore, the car would be worth $6,370 less at the end of the first year.