If a new van is valued at $34,600, what will its value be in 3 years if it depreciates 14.2% each year?
2 answers:
Answer:
The answer is $21,854. 35
Step-by-step explanation:
rate = 14.2%
Time = 3 years
Value = 34600
V = (1-r)^t
V=34600(1-0.142)^3
V=34600 (0.858)^3
V=$21,854.35
34600 * (1-0.142)^3 = 21854.35
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