$6932.73.
Step-by-step explanation:
Principal = $16400
Rate of decrease = 8.25%
Now we are supposed to find What will the value of the car be, to the nearest cent, after 10 years?
Formula :
where A is the amount
r is the rate of decreasing in % =8.25%
t is the time =10
P is the principal =$16400
Substituting the values:
Hence the value of the car after 10 years will be $6932.73.
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