Raphael purchased a 3-year-old car for $16,000. He was told that this make and model depreciates exponentially

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Raphael purchased a 3-year-old car for $16,000. He was told that this make and model depreciates exponentially at a rate of 5.45% per year. What was the original price of the car when it was new?

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Financial Algebra advanced algebra with financial applications

ISBN: 978-0538449670

1st edition

Authors: Robert K. Gerver

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Question Posted: Apr 14, 2016 04:49 AM

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Raphael purchased a 3-year-old car for $16,000. He was told that this make and model depreciates exponentially

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Financial Algebra advanced algebra with financial applications

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