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Sequence and series math question? a car is worth 38 500 and depreciates in value by 13.5% each year. what is?
Sequence and series math question?
a car is worth 38 500 and depreciates in value by 13.5% each year.
what is the car worth after 15 years?
1 year?
what is the value it lost after one year?
1 Answer
- 8 years agoFavorite Answer
there are 2 methods.
1. straight line method
100% / 13.5% = 7.41
The car will have zero value after 7.41 years.
After 1 year = 38500 - (38500 x (13.5/100)) = 33302.50
2. declining balance
Year Base 13.50% Balance
-----------------------------------------------------------------
1 38500 5197.5 33302.5
2 33302.5 4495.8375 28806.6625
3 28806.6625 3888.899438 24917.76306
4 24917.76306 3363.898013 21553.86505
5 21553.86505 2909.771782 18644.09327
6 18644.09327 2516.952591 16127.14068
7 16127.14068 2177.163991 13949.97669
8 13949.97669 1883.246852 12066.72983
9 12066.72983 1629.008527 10437.72131
10 10437.72131 1409.092376 9028.628929
11 9028.628929 1218.864905 7809.764024
12 7809.764024 1054.318143 6755.44588
13 6755.44588 911.9851939 5843.460687
14 5843.460687 788.8671927 5054.593494
15 5054.593494 682.3701217 4372.223372
After 15 years, the value is 4372.22