Question

A new truck sells for $29,000 and depreciates 12% each year. Find the value of the truck after 10 years.

Answer 1

according to the question value got less 12% each year

first of all the 12% of 29000$ = 29000÷100×12= 3480 $

in one year truck value deprecates 3480$

in 10 years it will 3480$×10 =34800$

now truck cost will be = 29000-34800$= -5000$