Suppose a new car that costs $25,000 depreciates by 12% each year. In about how many years will the car be worth $15,000? Use

Question

Suppose a new car that costs $25,000 depreciates by 12% each year. In about how many years will the car be worth $15,000? Use the equation 15,000 = (25,000)(0.88)^x and round the value of x to the nearest year.

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Kunduz · Accepted Answer

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