2 years ago

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:

8 0

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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