Dave bought his car for $24 000 exactly 10 years ago. Each year, the value of his car decreases by 10% from the year before. How much is his car worth today?
10% = 10 / 100 = 0.1
Write an equation that show the cost of the car C, at year t.
C = 24000 ( 1 - 0.1 ) ᵗ
C = 24000 ∙ 0.9 ᵗ
Today car worth:
C = 24000 ∙ 0.9¹⁰
C = $8368.28