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Joanna buys a new horse every five years. She uses a depreciation rate of 2 5 % to estimate the value of her horse after

Joanna buys a new horse every five years. She uses a depreciation rate of 25% to estimate the value of her horse after 5 years. If after 5 years her current horse is worth $1750, how much was it when Joanna purchased it?(2 marks)
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