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?
4 answers
15,000 / 6 = ?
No, Ms. Sue, but thank you!
-.1091
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
(1/2)^(1/6) = 0.89089
So, the depreciation rate is .1091 = 10.91% per year
1 answer