Questions: A car was purchased for 48500.00 and is expected to be worth 16000.00 in 10 years. Determine the rate at which the van depreciates in value. - 00 per year - I don't know

A car was purchased for 48500.00 and is expected to be worth 16000.00 in 10 years. Determine the rate at which the van depreciates in value. - 00 per year - I don't know
Transcript text: A car was purchased for $48500.00 and is expected to be worth $16000.00 in 10 years. Determine the rate at which the van depreciates in value. $ $\square$ 00 per year $\square$ Idon't know 2 attempts Submit answer Exit
failed

Solution

failed
failed

Determine the annual depreciation rate of the car.

Calculate the total depreciation.

The total depreciation is given by the formula:
\[ \text{Total Depreciation} = \text{Initial Value} - \text{Expected Value} = 48500 - 16000 = 32500 \]

Calculate the annual depreciation rate.

The annual depreciation rate is calculated as:
\[ \text{Annual Depreciation Rate} = \frac{\text{Total Depreciation}}{\text{Years}} = \frac{32500}{10} = 3250 \]

The annual depreciation rate is \(\boxed{3250}\) dollars per year.

The annual depreciation rate is \(\boxed{3250}\) dollars per year.

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
If the plot below represents a simple harmonic oscillator's position versus time, Plot [Select] represents the velocity of the oscillator, and Plot [Select] represents the acceleration of the oscillator.
failedAnswered
Magma with highest viscosity is also the most prone to... violently erupt contain very little water or gas be the hottest form long, fast moving lava flows
failedAnswered
Consider the function g defined by g(x)=c/(x-17) for x<10, C+3x for x=10, 2C-4 for x>10. The symbol C represents the same real number in each of the piecewise formulas. Find the value for C that makes the function continuous on (-∞, 10]. Make sure that your reasoning is clear. Is it possible to find a value for C that makes the function continuous over (-∞, ∞) ? Explain.
failedAnswered
When buyers from Chipotle purchase organic meat and vegetables, they are part of the market.
failedAnswered
μ = x^4 y + y^2 z^3 x = r s e^t y = r s^2 e^-t z = r^2 s sin t find ∂u/∂s when r = α, Δ = 1 and t = 0 (sin x)' = cos x (cos x)' = -sin x sin 0 = 0 cos 0 = 1