You have to state the time of the loan.
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Answer: 37
Step-by-step explanation:
Answer:
$13,793
Step-by-step explanation:
Kate purchased a car for $23,000. It will depreciate by a rate of 12% a year. What is the value of the car in 4 years. *
The formula for Depreciation rate =
y = a(1 - r) ^t
Where
y = Value of the car after t years
a = Initial value of the car = $23,000
t= time in years = 4 years
r = Depreciation rate = 12% = 0.12)
y = $23000 (1 - 0.12)⁴
y = $13792.99328
Approximately = $13,793:
.57 I would assume but it really depends on how your scaling it
48-126=-78
-78/126= -0.<span>619047619
-0.</span>619047619x100=<span>61.9047619%
This can be rounded to 62%
Hope this helps :)</span>
