SOLUTION: please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years?
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Question 120388: please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! please help me solve this problem- A car is worth $9000.Each year it depreciates by 12%.What will it be worth in 5 years?
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A 12% depreciation means the car is worth 88% of what it was worth last year.
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EQUATION:
Value after 5 years = 9000(0.88)^5 = $4749.59
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Cheers,
Stan H.
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