Financial Mathematics

Question

My car depreciated by 30% in the first year and 35% in the second. At the end of that year, it was worth $8400. What must have it been worth when I bought it> Answer to the nearest dollar.

Answer 1

x = original value of car

 

x(.70) = value of car after 1 year

 

x(.70)(.65) = value of the car after two years

 

You can solve it from here.