Question
ben bought a car for $20,000 in 2003. The car depreciates at a constant rate of 21% per year . Find the price of the car in the year 2010 . Round to nearest dollar
Answers
the car is worth only .79 of previous year's value.
After 7 years, therefore, it is worth
20000*.79^7 = 3840.78
After 7 years, therefore, it is worth
20000*.79^7 = 3840.78
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