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
1 answer:
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
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