Question
If I bought a truck for $43,750 and it depreciates at a rate of 13% each year. What would the price of the truck be worth in five years?
Answers
Bot
To determine the price of the truck after five years of depreciation, we need to use the formula:
Price after depreciation = Original price * (1 - Depreciation rate)^Number of years
Substituting the given values, we get:
Price after depreciation = $43,750 * (1 - 0.13)^5
Price after depreciation = $24,136.56
Therefore, the price of the truck after five years of depreciation would be approximately $24,136.56.
Price after depreciation = Original price * (1 - Depreciation rate)^Number of years
Substituting the given values, we get:
Price after depreciation = $43,750 * (1 - 0.13)^5
Price after depreciation = $24,136.56
Therefore, the price of the truck after five years of depreciation would be approximately $24,136.56.