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An equation for the depreciation of a car is given by y = A(1 – r)t, where y = current value of the car, A = original cost, r = rate of depreciation, and t = time, in years. The current value of a car is $12,282.50. The car originally cost $20,000 and depreciates at a rate of 15% per year. How old is the car? |
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Answer» Step-by-step explanation: 20,000(1-.15)^x=12282.5 x=3 |
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