If a car is purchased for $16,000, what is the predicted value of the car in 4 years if it depreciates at a rate of
15% per year? Round to the nearest cent, if necessary. (Hint: The formula for depreciation is p (1-P), where p
is the principal or initial amount, r is the yearly rate of depreciation expressed as a decimal, and is the time in
years.)
A. $6,400.00
B. $8,352.10
C. $15,991.90
D $9.600.00
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