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SixtaBeyett732
SixtaBeyett732 SixtaBeyett732
  • 29-05-2015
  • Mathematics
Answered

Alex purchased a new car for $28,000. The car's value depreciates 7.25% each year. What will be the value of the car 5 years after it is purchased? Round your answer to the nearest dollar.

Verified Answer :

jzakoian
jzakoian jzakoian
  • 29-05-2015

the value would be 28,000(1-0.0725)(1-0.0725)(1-0.0725)(1-0.0725)(1-0.0725)
which is 28,0000,9275\(^{5}\)
which equals 28,000*0.6863=$19,219

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