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Luther purchased a motorcycle for $11,592. It depreciates about 7.2% each year. What is the value of the motorcycle after six years?
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Luther purchased a motorcycle for $11,592. It depreciates about 7.2% each year. What is the value of the motorcycle after six years?

User ManicMonkOnMac
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1 Answer

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The value reduces to 100-7.2 = 92.8 % every year. Value after 6 years = 11,592 x .928^6 = 7403.6

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User Leandrojmp
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