SAT Question 566759ef: Percentages answer and explanation with Desmos solution

Math - Percentages - Multi Step Successive Percent
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Thomas installed a new stove in his restaurant. At the time of installation, the stove had a value of $. Thomas estimates that each year the value of the stove will depreciate by of the previous year's estimated value. What is the estimated value of the stove exactly years after Thomas installed it?

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Difficulty:Medium