16. A new car costs $28 500. It loses 11.4% of its value each year after it is purchased. Determine the value of the car after 3 years. a. $19282.38 b. $19821.93 C. $29400.38 d. $365.13

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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16. A new car costs $28 500. It loses 11.4% of its value each year after it is purchased. Determine the
value of the car after 3 years.
a. $19282.38
b. $19821.93
c. $29400.38
d. $365.13
Transcribed Image Text:16. A new car costs $28 500. It loses 11.4% of its value each year after it is purchased. Determine the value of the car after 3 years. a. $19282.38 b. $19821.93 c. $29400.38 d. $365.13
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