document.write( "Question 171325: My Toyota Avalon was purchased for $27,500 in 1997. It has been decreasing in value at an average rate of 15% annually since then. When is its approximate value now? \n" ); document.write( "

Algebra.Com's Answer #126474 by Mathtut(3670) $\"\"$ $\"About$

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well if you figure it to be 11 years\r
\n" ); document.write( "\n" ); document.write( "formula is total amount(27,500) times $\".15%5En\"$ n being the number of years of depreciation. In general depreciation equals $\"Tx%5En\"$ where T is the Total being depreciated, x is the rate of depreciation, and n is the number of years.
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\n" ); document.write( " $\"%28.15%29%5E11\"$ gives us a percentage of .167
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\n" ); document.write( "multiply that by 27500 and the appx value is $\".167%2827500%29=4601.92\"$ dollars
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