From the following information, determine the average yearly depreciation.
2 answers:
Answer:
Average yearly depreciation of the car is $291.67
Step-by-step explanation:
Cost of the used car = $3000
Trade in value of the car is given as $1250.
Duration for which the car was used = 6 years
Total depreciation in the price of the car = Cost of the car - price of the car at which car is being traded
So total depreciation = 3000 - 1250 = $1750
Average yearly depreciation = Total depreciation ÷ Years driven
Average depreciation =
Therefore average yearly depreciation $291.67 is the answer.
You might be interested in
Answer:
The final price is $66.
Step-by-step explanation:
This question can be solved by a rule of three.
The initial price was of $120.
Initially, there was a discount of 15%. Then, there is another discount on the initial price. So the total discount is of 15+30 = 45%.
So the final price will be 100-45 = 55% = 0.55 of the initial price.
So
$120 - 1
x - 0.55
The final price is $66.