In the year 2003, a person bought a new car for $12500. For each consecutive year after that, the value of the car depreciated by 7%. How much would the car be worth in the year 2005, to the nearest hundred dollars?

Mathematics For Machine Technology
8th Edition
ISBN:9781337798310
Author:Peterson, John.
Publisher:Peterson, John.
Chapter25: Achievement Review—section Two
Section: Chapter Questions
Problem 24AR: A piece of machinery is purchased for $8792. In 1 year, the machine depreciates 14.5%. By how many...
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In the year 2003, a person bought a new car for $12500. For each consecutive year
after that, the value of the car depreciated by 7%. How much would the car be worth
in the year 2005, to the nearest hundred dollars?
Answer:
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Transcribed Image Text:In the year 2003, a person bought a new car for $12500. For each consecutive year after that, the value of the car depreciated by 7%. How much would the car be worth in the year 2005, to the nearest hundred dollars? Answer: Submit Answer Lenovo #3 24 & 2 4 8 e r S d f V b 3.
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