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Tony bought a car for $15,149.53 that is 6.5 years old. When the car was new, it sold for $29,725. Find the depreciation rate to the nearest hundredth of a percent.
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Tony bought a car for $15,149.53 that is 6.5 years old. When the car was new, it sold for

$29,725. Find the depreciation rate to the nearest hundredth of a percent.

User Asg
by
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1 Answer

7 votes

Answer:

depreciation rate:

[(15149.53-29725)/29725]*100=49.03%

calculation formula[(final value-initial value)/initial value]*100

Explanation:

User Pim Schellart
by
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