Question 1098873
(a)The future value of the car would be:
FV=25,000*(1-0.125)^y  where FV is the future value of the car, and y is the number of years since January, 2017.
(b)2023-2017=6
FV(2023)=25,000*(0.875)^6=$11219.88 as the value of the car in the year 2023
(c)5000=25,000*(0.875)^y
.2=0.875^y
ln 0.2=ln 0.875^y=y ln 0.875
y=ln 0.2/ln 0.875=12.053 years
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