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12 July, 03:37

Alex purchased a new car for 28,000 value depreciates 7.25% each year what will be the value of the car five years after it is purchased

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  1. 12 July, 03:59
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    A=p (1-r) ^t

    A future value?

    P present value 28000

    R rate of depreciation 0.0725

    T time 5 years

    A=28,000 * (1-0.0725) ^ (5)

    A=19,218.9 round 19219
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