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? W
hat is the equation?
1 answer:
Answer:
$13,629.44
Step-by-step explanation:
Value of car after 3 years is:
V = $20,000(1.00-0.12)^3, or
$20,000(0.88)^3 = $13,629.44
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