A car costs $25,750.00 and depreciates in value by 20% per year. How much will the car be worth after 5 years? (1 point) Responses
After 1 year, the car will be worth 80% of its original value: 0.8 * $25,750.00 = $20,600.00
After 2 years, the car will be worth 80% of its value from the previous year: 0.8 * $20,600.00 = $16,480.00
After 3 years, the car will be worth 80% of its value from the previous year: 0.8 * $16,480.00 = $13,184.00
After 4 years, the car will be worth 80% of its value from the previous year: 0.8 * $13,184.00 = $10,547.20
After 5 years, the car will be worth 80% of its value from the previous year: 0.8 * $10,547.20 = $8,437.76
The car will be worth $8,437.76 after 5 years.