Value of an SUV The cost of a new SUV is $30,000. If it

Chapter 6, Problem 6.1.681

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Value of an SUV The cost of a new SUV is $30,000. If it depreciates at a rate of 18% per year, the value of the SUV in t years can be approximated by the function V(t) = 30,000(0.82)t . Determine the value of the SUV in 4 years. Round your answer to the nearest cent.

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