Hi I need help please
Suppose you bought a car in mid 2006 fir $10,000. If its value in current dollar depreciates steadily at 12% per year what will its value in current dollars be in mid 2009?
After one year its value is (100-12)% of what it was at the start of the year
So you can find 88% of $10,000 by doing 0.88x10,000
and 88% of that is 0.88 x your answer
and 88% of that is 0.88 x your answer.
To do it in one quick easy calculation work out 0.88^3 x 10000