Rinaldo+bought+a+new+car+for+52,000+a+year+ago.+A+new+car+normally+loses+20%2525+of+its+value+after+one+year.+What+is+Rinaldo+car+worth+now

Answer 1

To determine the current value of Rinaldo's car after one year, we can calculate the depreciation based on the 20% loss in value.

1. Initial Value of the Car: $52,000
2. Depreciation Rate: 20% (or 0.20)

To find the amount the car has lost in value, we multiply the initial value by the depreciation rate:

\[ \text{Depreciation Amount} = 52,000 \times 0.20 = 10,400 \]

Next, we subtract the depreciation amount from the initial value to find the current value of the car:

\[ \text{Current Value} = 52,000 - 10,400 = 41,600 \]

Therefore, Rinaldo's car is worth $41,600 now.