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Chapter 12: Q. 15 (page 840)
A new car sold for $31,000. If the vehicle loses 15% of its value each year, how much will it be worth after 10 years?
The value of the car after 10 years is $6,103.10
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In Problems 11–16, evaluate each factorial expression.
Roth IRA On January 1, 1999, Bob decided to place \(500 at the end of each quarter into a Roth Individual Retirement Account.
(a) Find a recursive formula that represents Bob’s balance at the end of each quarter if the rate of return is assumed to be 8% per annum compounded quarterly.
(b) How long will it be before the value of the account exceeds \)100,000?
(c) What will be the value of the account in 25 years when Bob retires?
In Problems 17–28, write down the first five terms of each sequence.
In Problems 71-82, find the sum of each sequence.
In Problems 61–70, express each sum using summation notation.
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