Answer to Question #177415 in Algebra for Chris

Question #177415

A new car is purchased for 24800 dollars. The value of the car depreciates at 12% per year. What will the value of the car be, to the nearest cent, after 13 years?

Expert's answer

A_n=A₀(1 - p/100)ⁿ

A_n=24800(1 - 0.12)¹³=4706.81 dollars

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