A new car is purchased for 27,200 dollars. The value of the car depreciates at a rate of
5% per year. Which equation represents the value of the car after 7 years?
OV 27, 200(1.05)7
OV=27, 200(0.95)7
OV=27, 200(0.05)7
OV=27, 200(1-0.5)7
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