A new car is purchased for 16400 dollars. The Value of the car depreciates at 8.25% per year . What will The value of the car be , to the ne

Question

A new car is purchased for 16400 dollars. The Value of the car depreciates at 8.25% per year . What will The value of the car be , to the nearest cent ,after ten years

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Quinn 2 weeks 2021-09-14T20:08:41+00:00 1 Answer 0

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    2021-09-14T20:10:02+00:00

    $6932.73.
    Step-by-step explanation:
    Principal = $16400
    Rate of decrease = 8.25%
    Now we are supposed to find What will the value of the car be, to the nearest cent, after 10 years?
    Formula :
    where A is the amount
    r is the rate of decreasing in % =8.25%
    t is the time =10
    P is the principal =$16400
    Substituting the values:

    Hence the value of the car after 10 years will be $6932.73.

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