asked 130k views
2 votes
FINANCE

which of the rates 5% p.a, 6% p.a, 7% p.a or 8% p.a. would cause a car valued $6000 to drop in value to $4826 in 3 years?


pls show full working out ty :)

asked
User Costas
by
8.4k points

1 Answer

0 votes
4826=6000(1-.07)^3 the answer is 7%
answered
User Goni
by
8.9k points
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