What is the value, after 7 years, of a 2014 Ford Mustang that originally cost $25,000.00 if the depreciate at a rate of 8% per y ear? Round your answer to the nearest dollar.
2 answers:
Answer:
$14,236
Step-by-step explanation:
25000 x 0.92 = 23000 = 1 Year
23000 x 0.92 = 21600 = 2 Years
19872
18282.24
16819.66
15474.09
14236 = 7 Years
The answer would be 14000
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