. If an item has a new cost of C and an annual depreciation rate of r (as a decimal), its value, V, after years is given by V=C(1-r). Monica bought a microwave oven 4 years ago. It has depreciated 13% annually, and currently has a value of $246.32. What did she pay for it new?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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20. If an item has a new cost of C and an annual depreciation rate
of r (as a decimal), its value, V, after years is given by
V=C(1-r). Monica bought a microwave oven 4 years ago. It
has depreciated 13% annually, and currently has a value of $246.32.
What did she pay for it new?
20.
Transcribed Image Text:20. If an item has a new cost of C and an annual depreciation rate of r (as a decimal), its value, V, after years is given by V=C(1-r). Monica bought a microwave oven 4 years ago. It has depreciated 13% annually, and currently has a value of $246.32. What did she pay for it new? 20.
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