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FINANCE which of the rates 5% p.a, 6% p.a, 7% p.a or 8% p.a. would cause a car valued $6000 to drop in value to $4826 in 3 years? pls show full working out ty :)
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FINANCE

which of the rates 5% p.a, 6% p.a, 7% p.a or 8% p.a. would cause a car valued $6000 to drop in value to $4826 in 3 years?


pls show full working out ty :)

User Costas
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1 Answer

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4826=6000(1-.07)^3 the answer is 7%
User Goni
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