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The value of a car purchased for $20,000 decreases at a rate of 12% per year. What will be the value of the car after 3 years?

 Apr 3, 2018
 #1
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FV = PV [1 + R]^N

FV = 20,000 x [1 - 0.12]^3

FV = 20,000 x    0.88^3

FV = 20,000 x     0.681472

FV = $13,629.44 - the value of the car after 3 years.

 Apr 3, 2018
 #2
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tysm

Neptune  Apr 3, 2018

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