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A car dealership wants to try out a new leasing arrangement, which will allow a buyer to trade a car back to the dealership for a certain amount of credit at any time throughout the first five years of ownership. For a car in good condition, the arrangement will value the car at 1515 the original price at the end of five years, and will depreciate the value of the car linearly over the course of the five years. What is the value of a car with initial purchase price P at the end of the first year? Write your answer as an expression in terms of P. Write the exact answer. Do not round.

A car dealership wants to try out a new leasing arrangement, which will allow a buyer to trade a car back to the dealership for a certain amount of credit at any time throughout the first five years of ownership. For a car in good condition, the arrangement will value the car at 1515 the original price at the end of five years, and will depreciate the value of the car linearly over the course of the five years. What is the value of a car with initial purchase price P at the end of the first year? Write your answer as an expression in terms of P. Write the exact answer. Do not round.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
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A car dealership wants to try out a new leasing arrangement, which will allow a buyer to trade a car back to the dealership for a certain amount of credit at any time throughout the first five years of ownership. For a car in good condition, the arrangement will value the car at 1515 the original price at the end of five years, and will depreciate the value of the car linearly over the course of the five years. What is the value of a car with initial purchase price P at the end of the first year? Write your answer as an expression in terms of P. Write the exact answer. Do not round.

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