Question

david recently bought a property for $560,000. if the property will depreciate in value by 4% in the next year, how much will the property be worth after one year?

Answer 1

To find out how much the property will be worth after one year, we need to calculate the depreciation.

First, we need to find 4% of the original value of the property, which is $560,000. To do this, we multiply 560,000 by 0.04 (since 4% is equivalent to 0.04).

560,000 * 0.04 = $22,400

So, the depreciation amount after one year is $22,400.

To find the new value of the property after depreciation, we subtract the depreciation amount from the original value:

560,000 - 22,400 = $537,600

Therefore, the property will be worth $537,600 after one year, considering the 4% depreciation.

Step-by-step explanation:

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