The price of a new car is $20,000. If it has a depreciation rate of 18% per year, what is its value in 3 yr?

Question

The price of a new car is $20,000. If it has a depreciation rate of 18% per year, what is its value in 3 yr?

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Huyền Thanh 4 years 2021-09-05T07:03:14+00:00 2 Answers 14 views 0

Answers ( )

  1. lethu
    0
    2021-09-05T07:05:04+00:00
    Reply

    Answer:

    Step-by-step explanation:

    Depreciation in 1st year= 18%×$20,000=18÷100×$20,000= 0.18×$20,000=$3600

    New value=$20,000-$3600=$16,400

    Depreciation in 2nd year=18% of $16,400=0.18×16,400=$2,952

    New value=$16,400-$2,952=$13,448

    Depreciation in 3rd year=18% of $13,448=0.18×$13,448=$2,420.64

    New value=$13,448-$2,420.64=$11,027

    .36

  2. Cherry
    0
    2021-09-05T07:05:06+00:00
    Reply

    Answer: After 3 years the value of the new car would be $11,027.36

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