a car sells for $25000. if the rate depreciation is 15% what is the value of the car after 7 years

Answer 1

25,000 * 0.15 = 3,750
25,000 - 3,750 = 21,250 >> value after year 1.

21,250 * 0.15 = 3,187.5
21,250 - 3,187.5 = $18,062.5 >> value after year 2.

Continue this procedure til you come to the end of year 7.