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A new car is purchased for 20300 dollars. The value of the car depreciates at 9.5% per year. What will the value of the car be, to the nearest cent, after 11 years?
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21 votes
A new car is purchased for 20300 dollars. The value of the car depreciates at 9.5% per year. What will the value of the car be, to the nearest cent, after 11 years?

User Ashish Tyagi
by
3.3k points

1 Answer

5 votes

Answer:

6770.65$

Explanation:

The formula for this is

20300×(0.905)^11

20300×0.333529591

6770.6507

which can be rounded to

6770.65$

User Pengun
by
3.4k points
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