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Karolina [17]
2 years ago
7

A new car sells for $25,000. The value of the car decreases by 15% each year. What is the approximate value of the car 5 years a

fter it is purchased? 25,000 (1 minus 0. 15) Superscript 5, or approximately $11,093 25,000 minus 1500 (5), or approximately $17,500 25,000 (0. 15) Superscript 5, or approximately $18,984 25,000 minus left-bracket (100 minus 15) (5) Right-bracket, or approximately $24,575.
Business
1 answer:
Rama09 [41]2 years ago
7 0

Depreciation is an accounting method for allocating the cost of a tangible or physical asset over its <u>usable life</u>. Depreciation is a term used to describe<u> how much</u> of an asset's worth has been used.


<h2>Given:</h2>


Initial value of the Car = 25,000

Depreciation of the Car= 15% per annum based on net book value

<h3>The computation:
</h3>

Note: t = Number of years

\text{Net book value} = 25,000 (1 - 0.15)^t

NBV = 25,000 (0.85)^5\\\&#10;&#10;NBV = 25,000 (0.4437)\\\&#10;&#10;NBV = 11,092.50&#10;&#10;&#10;

As a result, the car's approximate value 5 years after purchase is 11,092.50.


For more information about computing sum, refer below:

brainly.com/question/1373966

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