Asked by Nicole

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?
Answered by Ms. Sue
15,000 / 6 = ?

Answered by Nicole
No, Ms. Sue, but thank you!
Answered by Nicole
-.1091
Answered by Steve
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
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