A credit card issuer offers an APR of 22.08% and compounds interest daily. Which is it most likely to advertise, its APR or its
1 answer:
You might be interested in
Answer:
The function, f(x) to model the value of the van can be expressed as follows;
Step-by-step explanation:
From the question, we have;
The amount at which Amrita bought the new delivery van, PV = $32,500
The annual rate of depreciation of the van, r = -12% per year
The Future Value, f(x), of the van after x years of ownership can be given according to the following formula
Therefore, the function, f(x) to model the value of the van after 'x' years of ownership can be expressed as follows;