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A vehicle purchased for $20700 depreciates at a constant rate of 16% each year. Its value after t years can be modeled by the equation
A vehicle purchased for $20700 depreciates at a constant rate of 16% each year. Its value after t years can be modeled by the equation A=P(0.84) , where P is the original value of the vehicle. Determine the number of years that it takes for the vehicle to depreciate to $12000 Round to the nearest tenth.
Find the final amount of money in an account if $9,500 is deposited at 5.5% interest compounded annually and the money is left for 10 years.
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