+67 A new scooter is valued at $15 000. At the end of each year its value is reduced by 15% of its value at the start of the year. What will it be worth after 3 years?
+33666 "A new scooter is valued at $15 000. At the end of each year its value is reduced by 15% of its value at the start of the year. What will it be worth after 3 years?"
At the end of the first year the value is $0.85*15000 (because 0.85 = 1 - 0.15)
at the end of the second year the value is $0.85*0.85*15000 → $0.852*15000
at the end of the third year the value is $0.85*0.852*15000 → $0.853*15000
etc.
