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7 March, 06:54

A new car valued at $16,500 depreciates at a steady rate of 12% per year. What is the value of the car in 10 years?

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  1. 7 March, 09:58
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    Step-by-step explanation:

    Rate = 12% = 0.12

    value after 10 years = A * (1-r%) ^n

    = 16500 * (1-0.12) ^10

    =16500 * (0.88) ^10

    =16500*0.2785

    =$4595
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