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A vehicle purchased for $32500 depreciates at a constant rate of 5% per year. Determine the approximate value of the vehicle 15 years after purchase.
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A vehicle purchased for $32500 depreciates at a constant rate of 5% per year. Determine the approximate

value of the vehicle 15 years after purchase.

User Uttam Panchasara
by
6.9k points

1 Answer

5 votes

Answer:

$8125

Explanation:

Depreciation value=(32500×.05×15)

Depreciation value=$24375

Approximate value after 15years=$32500-$24375

=$8125

User Soroush Falahati
by
7.0k points
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