Ask Question
8 December, 04:57

Lenny's car is worth $18,000 after 5 years. When the car was new, it sold for $24,000. What is the depreciation rate?

+5
Answers (2)
  1. 8 December, 05:44
    0
    If you doing straight-line depreciation rate

    (P-s) : N

    (24000-18000) / 5=1200

    where p is cost, s is sold or salvage value, N is number of years
  2. 8 December, 05:58
    0
    A=p (1-r) ^t

    18000=24000 (1-r) ^5

    Solve for r (rate of depreciation)

    R = ((18,000:24,000) ^ (1:5) - 1) * 100

    R=-5.59 % per year
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Lenny's car is worth $18,000 after 5 years. When the car was new, it sold for $24,000. What is the depreciation rate? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers