A new truck that sells for $25,000 depreciates (decreases in value) 11% each year. What will be the value of the truck in 2 years

Original price =$25,000
Depreciation rate = 11%

Note that 1 - 0.11 = 0.89.
Value after 1 year    = $25,000 (0.89) = $22,250
Value after 2 years = $22,250 (0.89) = $19,802.50

Answer: $19,802.50