A new car is purchased for 19000 dollars. The value of the car depreciates at 11.25% per year. What will the value of the car be
, to the nearest cent, after 14 years.
1 answer:
Answer:
$3573. 64
Step-by-step explanation:
Convert 11.25% to the decimal fraction 0.1125. Then subtract this result from 1.0000: 0.8875.
After 14 years, the formerly $19000 car will have the value
$19000(0.8875)^14 = $3573. 64
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