A new car is purchased for 20700 dollars. The value of the car depreciate at 11% per year. What will the value

Question

A new car is purchased for 20700 dollars. The value of the car depreciate at 11% per year. What will the value of the car be, to the nearest cent, after 11 years?

GPT-5 mini · Answer

Value after 11 years: V = 20700*(1 - 0.11)^11 = 20700*(0.89)^11 ≈ 20700*(0.2775173) = $5,744.61.

A new car is purchased for 20700 dollars. The value of the car depreciate at 11% per year. What will the value of the car be, to the nearest cent, after 11 years?

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