SOLUTION: alex bought a used car for $22,000. the value of the car will be less each year because of depreciation. the car deprediates (loses value) at the rate of 11 precent per year> find

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: alex bought a used car for $22,000. the value of the car will be less each year because of depreciation. the car deprediates (loses value) at the rate of 11 precent per year> find       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 232587: alex bought a used car for $22,000. the value of the car will be less each year because of depreciation. the car deprediates (loses value) at the rate of 11 precent per year> find the value of the car in 10 years.
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
22,000(1-.11)^10
22,000(.89)^10
22,000*.3118=$6,859.98 ans.