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footballhead
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#1
Report Thread starter 15 years ago
#1
Car Price is 20 000 depricates by 15% every year (i.e r= 0.85)

Find a formula linking its value V with its age a years?

Please can you show me the working to get to it.

Thanks.
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J.F.N
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#2
Report 15 years ago
#2
Y1=20000
Y2=20000x0.85
Y3=20000x0.85x0.85
...
Yn=20000x(0.85)^(n-1)
Where Yn denotes its value after n years.
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