Asked by Ray
A car was valued at $38,000 in the year 2003. The value depreciated to $11,000 by the year 2009. Assume that the car value continues to drop by the same percentage.
-What will the value be in the year 2013?
-What will the value be in the year 2013?
Answers
Answered by
Reiny
let the rate of depreciation be r
38000(1-r)^6 = 11000
(1-r)^6 = 11/38
1-r = (11/38)^(1/6)
1-r = .8133326
r = .186667
rate of depreciation is 18.67 %
so in 2012 it will be
38000(.8133326)^10 = $4813.55
38000(1-r)^6 = 11000
(1-r)^6 = 11/38
1-r = (11/38)^(1/6)
1-r = .8133326
r = .186667
rate of depreciation is 18.67 %
so in 2012 it will be
38000(.8133326)^10 = $4813.55
Answered by
priscilla
A new car was valued at $43,000, and it's value depreciated to $15,000 over the next 6 years. Use the exponential equation for depreciation to answer the following questions.
) What was the annual percent rate of depreciation, to 2 decimal places? Your answer will be a positive number.
) What was the annual percent rate of depreciation, to 2 decimal places? Your answer will be a positive number.
Answered by
sdfg
ctm
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.