The value of a new car decreases by about 10% in the first year. How much will a car be worth after one year if its initial value was $40,000.
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The value of a new car decreases by about 10% in the first year. How much will a car be worth after one year if its initial value was $40,000.
Pls help me :(
Step-by-step explanation:
Your car's value decreases around 20% to 30% by the end of the first year. From years two to six, depreciation ranges from 15% to 18% per year, according to recent data from Black Book, which tracks used-car pricing. As a rule of thumb, in five years, cars lose 60% or more of their initial value
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