for 18000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 14 years
Question
Solution 1
To calculate the value of the car after 14 years, we need to apply the annual depreciation rate of 13.5% to the initial value of $18,000 each year.
Here are the steps:
Convert the depreciation rate from a percentage to a decimal by dividing by 100. So, 13.5% becomes 0.135.
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