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Sagot :
The approximate value of the vehicle 15 years after purchase is $11,221.19.
What is the approximate value of the vehicle 15 years after purchase?
Depreciation is when the value of an asset declines with the passage of time as a result of wear and tear.
Value of the car = purchase price x (1 - rate of decline)^number of years
20,700 x (1 - 0.04)^15 = $11,221.19
To learn more about depreciation, please check: https://brainly.com/question/25552427
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