Question

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Suppose a car that sells for $40,000 depreciates 20% per year. How many years would it take for the car to have a value less than $21,000?

a. Use the formula $A_n = a_1 (r)^n^-^1$ to determine the solution.

b. Use the formula $A_n=a_0(1+r)^n$ to determine the solution.

Answer 1

Answer:

Step-by-step explanation:

It will take 4 years