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A vehicle purchased for $20,700 depreciates at a constant rate of 7%. Determine the approximate value of the vehicle 15 years after purchase. Round to the nearest whole dollar.
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A vehicle purchased for $20,700 depreciates at a constant rate of 7%. Determine the approximate value of the vehicle

15
years after purchase. Round to the nearest whole dollar.

User Jonasz
by
8.1k points

1 Answer

3 votes

Answer: 20700(.93)^15

Explanation:

User Steve Hawkins
by
9.0k points
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