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29 June, 09:53

You buy a used car for 15,000 it depreciates at the rate of 23% per year. find the value of the car for the given year

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  1. 29 June, 13:48
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    For how many years?

    In any case I will give you the formula & you will plug into the number of years"

    Remaining Value (or Salvage Value) = initial cost (1 - rate%) ^n (number of years

    Remaining value after n years = 15000 (1-23%) ^n
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