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7. Jason purchased a car for $35 000. Five years later the value of the car had decreased exponentially to $18 000. An equation that

7. Jason purchased a car for $35 000. Five years later the value of the car had decreased exponentially to $18 000. An equation that models this situation is: V(x) = 35 000(b)x Determine the average annual rate of depreciation, accurate to 1 decimal place. [3 marks]

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