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24 April, 20:15

A new car is purchased for 16500 dollars. The value of the car depreciates at 5.75% per year. What will the value of the car be, to the nearest cent, after 5 years?

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  1. 24 April, 21:20
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    A=16500 (1-0.0575) ^5

    A=16,500 * (1-0.0575) ^ (5)

    A=12,271.30
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