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iheartfood Group Title

The original purchase price of a car is $16,000. Each year, its value depreciates by 10%. Three years after its purchase, what is the value of the car? A. $16 B. $34,587.23 C. $11,664 D. $12,960 **not quite sure how to solve this... please explain? :) thx!

  • one year ago
  • one year ago

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  1. jim_thompson5910 Group Title
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    Final Value = Original Value*(100% - 10%)^(Number of years) FV = 16000*(1 - 0.10)^(3) FV = 16000*(0.90)^(3) I'll let you finish

    • one year ago
  2. iheartfood Group Title
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    kk so i get 11664 ? so my answer is C. $11,664 ??

    • one year ago
  3. jim_thompson5910 Group Title
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    yep

    • one year ago
  4. iheartfood Group Title
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    awesome!! Thank youu :)

    • one year ago
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