A vehicle purchased for $32500 depreciates at a constant rate of 9%. Determine the approximate value of the vehicle 10 years after purchase.
Raymond B.
answered 05/25/21
Math, microeconomics or criminal justice
32500e^-.09(10) = 32500e^-.9 = 32500/2.47077 = about $13,153.79 after 10 years if it depreciates at a constant rate of 9%
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