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A new car is purchased for 22400 dollars. The value of the car depreciates at 6.75% per year. What will the value of the car be, to the nearest cent, after 9 years?
 Jan 25, 2021
 #1
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Each  successive year, the car is worth 1 - .0675    = .9325  = 93.25 %  of what it was worth the previous year

 

After 9 years, the value is    22400 (.9325)^9    =  $11942.29

 

 

cool cool cool

 Jan 25, 2021

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