Luke purchased a motorcycle for $8765. It depreciates about 5.3% each yeah. What is the value of the motorcycle after five years

Question

klio [65]

3 years ago

6

Luke purchased a motorcycle for $8765. It depreciates about 5.3% each yeah. What is the value of the motorcycle after five years

?

Mathematics

2 answers:

Charra [1.4K] · Answer 1 · 2022-07-06T23:39:21+03:00

Charra [1.4K]3 years ago

8 0

After 5 years, the value of this motorcycle is $<span>6675.77</span>

mafiozo [28] · Answer 2 · 2022-07-07T01:13:36+03:00

mafiozo [28]3 years ago

8 0

The formula is to find the salvage value or the remaining value after depreciation of n year at the rate I

Salvage value = Purchase price (1- I%)^n

Salvage Val = 8765(1-5.3%)^5 = $6,675.77