Anew car is purchased for 2 dollars. the value of the car depreciates at 12.5% per year. what will the value of the car be, to the nearest cent, after 11 years?

➷ final = original x multiplier^n

n is the number of years

Substitute in the values:

final = 20,000 x 0.875^11

final = 4603.8225

The answer would be $4603.82

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