Question

A new car cost 360000 if its price depreciates at the rate of 15%annually what will be its price after 5 years

Answer 1

Answer:

Step-by-step explanation:

FORMULA FOR DEPRECIATION = P(1-R/100)^N WHERE P= PRESENT VALUE , R= RATE OF DEPRECIATION AND N= NUMBER OF YEARS

360000(1-15/100)^5(NOTE- ITS NOT 1-15=14 THOSE ARE DIFFERENT TERMS)=159733.9125

Answer 2

a. 179000 b. 159700 c. 155700 d. non