Question
8. The Government of Belize bought a new Isuzu D-Max Pickup from Bravo Motors for $80,000. The pickup depreciates at a rate of 7.5% per annum. What will be the value of the pickup after five years?
Answers
Answered by
GPT 3.5
To calculate the value of the pickup after five years, we need to calculate the depreciation for each year.
Year 1: 80,000 * 7.5% = $6,000
After the first year, the value of the pickup will be: 80,000 - 6,000 = $74,000
Year 2: 74,000 * 7.5% = $5,550
After the second year, the value of the pickup will be: 74,000 - 5,550 = $68,450
Year 3: 68,450 * 7.5% = $5,123.75
After the third year, the value of the pickup will be: 68,450 - 5,123.75 = $63,326.25
Year 4: 63,326.25 * 7.5% = $4,749.46
After the fourth year, the value of the pickup will be: 63,326.25 - 4,749.46 = $58,576.79
Year 5: 58,576.79 * 7.5% = $4,393.26
After the fifth year, the value of the pickup will be: 58,576.79 - 4,393.26 = $54,183.53
Therefore, the value of the pickup after five years will be $54,183.53.
Year 1: 80,000 * 7.5% = $6,000
After the first year, the value of the pickup will be: 80,000 - 6,000 = $74,000
Year 2: 74,000 * 7.5% = $5,550
After the second year, the value of the pickup will be: 74,000 - 5,550 = $68,450
Year 3: 68,450 * 7.5% = $5,123.75
After the third year, the value of the pickup will be: 68,450 - 5,123.75 = $63,326.25
Year 4: 63,326.25 * 7.5% = $4,749.46
After the fourth year, the value of the pickup will be: 63,326.25 - 4,749.46 = $58,576.79
Year 5: 58,576.79 * 7.5% = $4,393.26
After the fifth year, the value of the pickup will be: 58,576.79 - 4,393.26 = $54,183.53
Therefore, the value of the pickup after five years will be $54,183.53.
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