If a car depreciates exponentially at a rate of 8.7% per year, what was the original price if 5 years later the value is $12,250? A. $21,315.00 B. $26,643.75 C. $19,310.00 D. $14,080.46
If a car depreciates exponentially at a rate of 8.7% per year, what was the original price if 5 years later the value is $12,250? A. $21,315.00 B. $26,643.75 C. $19,310.00 D. $14,080.46
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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15. If a car
original price if 5 years later the value is $12,250?
A. $21,315.00
B. $26,643.75
C. $19,310.00
D. $14,080.46
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