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Question

A car was valued at 30k in 1994, it depreciated to 15k by 2000.

What was the annual rate of change between 94 and 2000?
8 years ago

Answers

Ms. Sue
15,000 / 6 = ?

8 years ago
Nicole
No, Ms. Sue, but thank you!
8 years ago
Nicole
-.1091
8 years ago
Steve
It depreciated to 1/2 its value in 6 years.

(1/2)^(1/6) = 0.89089

So, the depreciation rate is .1091 = 10.91% per year
8 years ago

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