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21 May, 20:08

In the year 2008, a person bought a new car for $17000. For each consecutive year after that, the value of the car depreciated by 8%. How much would the car be worth in the year 2011, to the nearest hundred dollars?

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  1. 21 May, 20:34
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    Step-by-step explanation:

    This is a simple exponential equation:

    cost=17000*0.92^ (years after 2008)

    so since 2011-2008 yields 3

    it will be 3 years after 2008, so

    cost = 17000 * 0.92^3

    $13,237.69
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