A new car is purchased for 20000 dollars.The value of the cat depreciates at 12.5% per year.What will the value of the car be, to the neares

Question

A new car is purchased for 20000 dollars.The value of the cat depreciates at 12.5% per year.What will the value of the car be, to the nearest cent, after 11 years?

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Amity 4 years 2021-08-19T19:44:05+00:00 1 Answers 12 views 0

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  1. RobertKer
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    2021-08-19T19:45:16+00:00
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    Answer:

    $460.38

    Step-by-step explanation:

    Use the exponential decay formula, y = C(1 – r)^t

    Plug in the original price, depreciation rate, and amount of time:

    y = 20000(0.875)^11

    y = 460.38

    So, the car’s value after 11 years will be $460.38

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