Question

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.

Answer 1

depreciation rate:

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

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

Explanation: