Determining automobile depreciation

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Reference no: EM13117875

Automobiles usually depreciate in value over time. Often a newer automobile may be worth only 80% of its previous year's value. Suppose that a car is worth $25,000 new.

(a) How much is it worth after 1 year? After 2 years?

(b) Write a formula for a sequence that gives the car's value after n years.

Reference no: EM13117875

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