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suter [353]
3 years ago
8

Tom spent $17,886 for a new car. The car will depreciate 11% each year. What will the car be worth after 11

Mathematics
1 answer:
KatRina [158]3 years ago
6 0

Answer:

495.62

Step-by-step explanation:

Given data

Amount=$17,886

Rate = 11%

TIme= 11 years

Let us apply the compounding expression

A=P(1-r)^t----------The negative sign is due to decreasing value

substitute

A= 1786(1-0.11)^11

A=1786(0.89)^11

A=1786*0.2775

A=495.615

Hence the approximate Amount will be 495.62

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