I need to determine a sequence or maybe a series for the depreication of a new car, it depreciates by 20% in its first year, each succeeding year it depreciates by 10%. Assume the car is still in good working condition after 10 years. If the car cost $25000, calculate the value of the car after 10years. Express to the nearest $10.


Thank you.

Car value today = 25,000
Year --> Dep. Rate --> Dep Amount --> Total Dep --> Book Value
1 --> 20% ----------->5,000--------->5,000------->20,000
2 --> 10% ----------->2,000--------->7,000------->18,000
3 --> 10% ----------->1,800--------->8,800------->16,200
4 --> 10% ----------->1,620-------->10,420------->14,580
5 --> 10% ----------->1,458-------->11,878------->13,122
6 --> 10% ----------->1,312.20----->13,190.20---->11,809.80
7 --> 10% ----------->1,180.98----->14,371.18---->10,628.82
8 --> 10% ----------->1,062.88----->15,434.06----->9,565.94
9 --> 10% ------------->956.59----->16,390.65----->8,609.35
10 --> 10% ------------>860.94----->17,251.59----->7,748.41

Therefore, the car would be worth $7,748.41