Amber bought a used car valued at $16,000. When this car was new, it was sold for

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Amber bought a used car valued at $16,000. When this car was new, it was sold for $28,000. If the car depreciates exponentially at a rate of 9% per year, approximately how old is the car?

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Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

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Question Posted: Sep 14, 2022 01:39 AM

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Amber bought a used car valued at $16,000. When this car was new, it was sold for

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The car is about a year old if it depreciates exponentially at a rate of 9 per year ...View the full answer

Financial Algebra Advanced Algebra With Financial Applications

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