SOLUTION: A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos now, what is its value on the 5th year?

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Question 966102: A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos now, what is its value on the 5th year?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=650000(1.05)^-5
FV=650000(0.7835)
FV=509292