7
QuizMath Formula

Exponential Equations in Financial Contexts — Quiz

Question 7 • Financial Math

A car depreciates an average of 7.5% annually. The purchase price of the car was $⁢28,946 What values complete the equation to determine the number of years, t , it takes the car to reach a value of $⁢25,775.05 ?

Answer

Math Formula Answer:

1.49

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