Question

you buy a used car for 15,000 it depreciates at the rate of 23% per year. find the value of the car for the given year

Answer 1

For how many years?


In any case I will give you the formula & you will plug into the number of years"

  Remaining Value (or Salvage Value) = initial cost(1 - rate%)^n(number of years

 Remaining value after n years = 15000(1-23%)^n