Question

Dan's car depreciates at a rate of 15% per year. By what percentage has Dan's car depreciated after 3 years?​

Answer 1

The percentage of deprecation of the car in the third year is 38.59%.

What is deprecation?

Depreciation is the decline in the value of an asset as a result of wear and tear.

Deprecation in year 1 = 15%

Deprecation in year 2 = 15% x (100 - 15%) = 12.75%

Deprecation in year 3 = 15% x (85% - 12.75) = 10.84%

Sum of deprecation = 38.59%

To learn more about depreciation, please check: brainly.com/question/25552427