Solve the problem.
-The formula for finding the present value of an item that depreciates yearly is . In this formula, is the present value, is the original cost, is the rate of depreciation per year, and is the number of years that have passed. After 7 years, what is the value of a car originally costing that depreciated at a rate of 0.1 per year?
A)
B)
C)
D)
Correct Answer:
Verified
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