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
$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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