Sheet # 344
Name_________________________Date:_____________
Show your work.
Suppose that a new car originally purchased for $12,000 loses 1/5 of its value at the end of first year. The second year it loses 1/5 of its original value. If it continues to lose 1/5 of the its original value each year, after how many full years will the car have lost more than 1/2 its original value?
Answer for sheet # 344
(1/5) of $12,000 = $2400
Value of the car at the end of 1st year: $9,600
Value of the car at the end of 2nd year: $7,200
Value of the car a the end of 3rd year: $4,800
It will take 3 years to lose more than half the value..