A car was valued at $27,000 in the year 1991. The value depreciated to $13,000 by the year 2007. Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions. A) What was the annual rate of change between 1991 and 2007? r = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A wrote in percentage form? r = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2011? value = $ Round to the nearest 50 dollars
A car was valued at $27,000 in the year 1991. The value depreciated to $13,000 by the year 2007. Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions. A) What was the annual rate of change between 1991 and 2007? r = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A wrote in percentage form? r = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2011? value = $ Round to the nearest 50 dollars
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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A car was valued at $27,000 in the year 1991. The value depreciated to $13,000 by the year 2007.
Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions.
A) What was the annual rate of change between 1991 and 2007?
r = Round the rate of decrease to 4 decimal places.
B) What is the correct answer to part A wrote in percentage form?
r = %.
C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2011?
value = $ Round to the nearest 50 dollars.
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