A new car is purchased for 15500 dollars. The value of the car depreciates at 7.5% per year. What will the value of the car be, to the nearest cent, after 6 years?
V is the depreciated value
P is the original value P=15500$
r is the rate of depreciation in decimal r=7.5%=0.075
x is Number of Time Periods x=6 years
9709.17$
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