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Math Topics
Intermediate Algebra
Exponential and Logarithmic Functions
1
Summary
Problem 28
If a car depreciates in value \(20\%\) per year for the first \(5\) years after it is purchased for \(P_0\) dollars, then its value after \(t\) years will be \(V(t)=P_0(1-r)^t\) for \(0\leq t\leq 5\). To the nearest dollar, find the value of a car \(4\) years after it is purchased for \(\$18,000\).
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