Five years ago, a certain make and model of a car now considered to be a classic
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Five years ago, a certain make and model of a car now considered to be a classic had a selling price of $26,000. Examine this geometric sequence representing the yearly appreciation in the price of the car since then: $26,000 $31,200 $37,400 $44,928 $53,813 $64,696.32. If this continues the same way, what would you expect to pay for this classic car 5 years from now?
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Clearly the sequence of partial sums is 260003120037400 26125105 6469632 Per 5 years from no...View the full answer
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Related Book For 
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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