Question

If a new truck is valued at $33,500 what will its value be in one year if it depreciates 11.3% each year

Answer 1

$29,714.5

Explanation:

First you need to find 11.3% of 33,500. You can do this by:

11.3/100 =0.113

0.113 x 33,500=3,785.5

3,785.5 is 11.3% of 33,500

then subtract 3,785.5 from 33,500

33,500-3,785.5=29,714.5

After one year the value of the truck will be $29,714.5