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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 10 years?.

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 10 years?.
asked 224k views
5 votes
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 10 years?.

asked
User Sriram Murali
by
7.9k points

1 Answer

8 votes

Answer:

$923.54

Step-by-step explanation:

16400(0.75)^x

16400(0.75)^10 = 923.54

answered
User Michael Lenzen
by
8.7k points
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