On July 15,2009, the Nixon Car Company purchased 1,000 tires from the Harwell Company for $50 each. The terms for the sale were 2/10, n/30. Nixon uses a periodic inventory system and the net method of accounting for purchase discounts.
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Math (Pre-Cal) (Exponential Functions)
A car was valued at $38,000 in the year 2003. The value depreciated to $11,000 by the year 2009. Assume that the car value continues to drop by the same percentage. -What will the value be in the year 2013?
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