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Luke purchased a motorcycle for $8765. It depreciates about 5.3% each yeah. What is the value of the motorcycle after five years?

Luke purchased a motorcycle for $8765. It depreciates about 5.3% each yeah. What is the value of the motorcycle after five years?
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2 votes
Luke purchased a motorcycle for $8765. It depreciates about 5.3% each yeah. What is the value of the motorcycle after five years?

User Ndrix
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2 Answers

4 votes
The formula is to find the salvage value or the remaining value after depreciation of n year at the rate I

Salvage value = Purchase price (1- I%)^n

Salvage Val = 8765(1-5.3%)^5 = $6,675.77



User Darpa
by
8.8k points
5 votes
After 5 years, the value of this motorcycle is $6675.77
User Andrew Queisser
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8.7k points
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