Question

Suppose a new car is purchased for $46,357 and depreciates by 22% over the first year of ownership. If the car is driven 12,170 miles in that year, what is the cost, in dollars per 100 miles driven, for depreciation? (Enter a number. Round your answer to the nearest cent.)

Answer 1

Answer:check the pic

Step-by-step explanation:

Answer 2

Answer: the cost per 100 miles driven is $83.8

Step-by-step explanation:

The price at which the new car was purchased is $46,357.

The car depreciates by 22% over the first year of ownership. This means that the amount by which it depreciated would be

22/100 × 46357 = 0.22 × 46357 = $10198.54

If the car is driven 12,170 miles in that year, it means that 12170 miles cost $10198.54. Therefore, the cost in dollars per 100 miles driven, for depreciation would be

(100 × 10198.54)/12170

= $83.8