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The problem in your image asks:

*During the last year, the value of my car depreciated by 10%. If the value of my car is \$23,000 today, what was the value of my car one year ago?*

Let's solve this step by step.

### Step 1: Understanding depreciation
If the value of the car depreciated by 10%, this means the car retained 90% of its original value after one year (since 100% - 10% = 90%).

### Step 2: Set up the equation
Let $ V_0 $ represent the value of the car one year ago. After depreciation, the value of the car is now \$23,000, which is 90% of $ V_0 $:

\[
0.9 \times V_0 = 23,000
\]

### Step 3: Solve for $ V_0 $
To find $ V_0 $, divide both sides by 0.9:

\[
V_0 = \frac{23,000}{0.9}
\]

Now, I'll calculate this.The value of your car one year ago was approximately **$25,555.56**, rounded to the nearest cent.

Would you like further details or have any questions?

Here are five related questions to explore:

1. How do you calculate depreciation for multiple years?
2. What happens if the depreciation rate is different each year?
3. How does inflation affect the resale value of cars?
4. What are other methods for calculating depreciation (e.g., straight-line vs. declining balance)?
5. How can you predict the future value of an asset using depreciation?

**Tip:** Depreciation rates vary by asset type, so understanding your car's depreciation curve can help in financial planning!

During the last year the value of my car depreciated by 10%. If the value of my car is $23,000 today, then what was the value of my car one year ago? Round your answer to the nearest cent, if necessary.

Learn how to calculate the original value of a car that has depreciated by 10%. Given the car's current value of $23,000, find its value one year ago using percentage depreciation formulas. A detailed, step-by-step algebraic solution is provided. Suitable for Grades 10-12.

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