Examlex

Solved

A Car Was Purchased in 1985 for $15,000

question 98

Multiple Choice

A car was purchased in 1985 for $15,000. Its value in current dollars depreciates steadily at a rate of 13% per year. What will the car's value be at the beginning of 2003?


Definitions:

Inflated

Increased or exaggerated beyond reasonable or normal limits, often referring to prices, ego, or statistics.

Radiograph

A record produced on a photographic plate, film, or paper by the action of X-ray or radium.

Photographic Plate

An early type of photography that uses a flat glass surface coated with a photosensitive chemical to capture images, now mostly replaced by digital methods.

Radium

A naturally occurring radioactive metal that was historically used in cancer treatment due to its radiation.

Related Questions