A car is purchased for $25,000 the value of the car depreciates at 8.25% per year what will the value of the car be to the neare

Question

3 years ago

8

st cent after 15 years

1 answer:

svp [43] · Answer 1 · 2022-07-08T07:11:31+03:00

svp [43]3 years ago

6 0

Answer:

BV= $6,871.18

Step-by-step explanation:

First, write equation for book value at the end of year 1;

BV= 25,000* (1-0.0825)^15

With the above equation, we can find book value at the end of year 15;

BV= 25,000* (1-0.0825)^15

BV=25000*0.274847

BV= $6,871.18