oluchisandra717 oluchisandra717

18-01-2021
Mathematics

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A car was bought in 1998 for $850000 and it's value depreciated at the rate of 15% per annum. calculate the value of the car in 2002

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bexwhite2610 bexwhite2610

18-01-2021

Answer:

number of years = 2002 - 1998 = 4

100 - 15= 85%

85/100=0.85

850000 X 0.85^4= 443705.3125

$443705.31

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