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Please help: What is the value, after 7 years, of a 2014 Ford Mustang that originally costs $25,000.00 if it depreciates at a rate of 8% per year? Round your answer to the nearest thousand dollars.
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Please help: What is the value, after 7 years, of a 2014 Ford Mustang that originally costs $25,000.00 if it depreciates at a rate of 8% per year? Round your answer to the nearest thousand dollars.

User Ole Wolf
by
6.4k points

2 Answers

5 votes
25000(.92)^7= $13,946
User Vgunnu
by
5.9k points
3 votes
Use the equation y=a(1-r)^t
In this case y=25,000(1-0.08)^7
Giving you...




$13,946.17

(Round as needed)
User Baccandr
by
6.0k points
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