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Tonya buys a car for $23,000. The value of the car decreases at a rate of 3% per year. How much will the car be worth in 5 years?

1 Answer

Sep 4, 2016

$= 19750$ $=19750$

Explanation:

$23000 {(1 - 0.03)}^{5}$ $23000(1-0.03)^5$

$= 23000 \times {(0.97)}^{5}$ $=23000times(0.97)^5$

$= 19750$ $=19750$

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