A new car that sells for $18,000 depreciates 25% each year. Find the value of the car after 4 years to the nearest cent.

$5,695.31

Step-by-step explanation:

We can use the following formula to solve:

P = principal value

r = rate (decimal)

t = time (years)

The first step is to change 25% into a decimal:

25% -> -> 0.25

Now, plug the values into the equation:

The value of the car will be $5,695.31

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