lapizz
Calculators
General
Algebra
Geometry
Coordinate-geometry
Statistics
Calculus
Qna
Math
lapizz
lapizz
Home
General
Algebra
Geometry
Coordinate-geometry
Statistics
Calculus
Qna
Math
MATH SOLVE
Home
General
A new truck that sells for $25,000 depreciates (decreases in value) 11% each year. What will be the...
4 months ago
Q:
A new truck that sells for $25,000 depreciates (decreases in value) 11% each year. What will be the value of the truck in 2 years
Accepted Solution
A:
Original price =$25,000
Depreciation rate = 11%
Note that 1 - 0.11 = 0.89.
Value after 1 year = $25,000 (0.89) = $22,250
Value after 2 years = $22,250 (0.89) = $19,802.50
Answer: $19,802.50