Answer: the value of the car after 7 years is $11220
Step-by-step explanation:
The formula for determining depreciation is expressed as
A = P(1 - r)^t
Where
A represents the final value of the car after t years.
P represents the present value of the car.
r represents the rate of depreciation
t represents the number of years.
From the information given
P = 35000
r = 15% = 15/100 = 0.15
t = 7 years
Therefore,
A = 35000(1 - 0.15)^7
A = 35000(0.85)^7
A = 11220.198
Rounding up yo the nearest dollar, it becomes $11220
Answer:
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Step-by-step explanation:
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Answer:
Step-by-step explanation:
-4m + 5 = -15
-5 -5
-4m = -20
___ ___
-4 -4
m=5
We first calculate the percentage increase on the tax
Old value = 25×9 = 225 ⇒ The value 9 represents the 9 lots of thousands of the house's value
New value = 28×9 = 252
Increase in tax = 252 - 225 =27
Percentage increase = (27÷225) ×100 = 12%
The amount of yearly rent would be then increased by 12%
Monthly rent = $60
Yearly rent = 60×12 = $720
Increase by 12% = 720×1.12 = 806.4 ⇒ The value 1.12 is the multiplier, obtained from 100%+12%=112%=1.12
The monthly rent is 806.4÷12 = $67.20 which is an increase of $7.20 per month
