Question

The value of a car depreciates by 35% each year. At the end of 2007 the value of the car was £5460 Work out the value of the car at the end of 2006

Answer 1

Answer:

-This question wants us to work backwards.Let N be the value of the car in the year 2006. Find the multiplier . 1-0.35 = 0.65. Hence N * (0.65) = £5460. Rearrange for N. N = £8400

Step-by-step explanation:

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Answer 2

Answer:

the value of the car at the end of 2006 was £8400.

Step-by-step explanation:

Depreciation is a term used in accounting to describe the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors that can affect its usefulness. It is a way of allocating the cost of an asset over its useful life, as an expense in the financial statements of a company.

Let V be the value of the car at the end of 2006.

Since the car depreciates by 35% each year, we know that its value at the end of 2007 is 65% of its value at the end of 2006. Mathematically, we can write:

V * 0.65 = £5460

To find V, we need to divide both sides of the equation by 0.65:

V = £5460 / 0.65 = £8400

Therefore, the value of the car at the end of 2006 was £8400.

Note that this calculation assumes that the depreciation is constant throughout the year, which may not be the case in reality. Additionally, other factors such as mileage, condition, and demand for the car can also affect its value.

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