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Ivanshal [37]
3 years ago
7

The value of a car is $18,000 and is depreciating 6% each year. What will the value of the car be in 7 years?

Mathematics
1 answer:
Fudgin [204]3 years ago
4 0

Answer:

  • $11672.60

Step-by-step explanation:

<u>Given:</u>

  • Initial value a = $18000
  • Rate of depreciation  6% or b = 1 - 0.06 = 0.94
  • Time x = 7 years

<u>Find the value of the car in 7 years:</u>

  • y = abˣ
  • y = 18000*0.94⁷ = 11672.60
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