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.

Question

asked Aug 26, 2024 83.3k views

1 Answer

Pim Schellart · Answer 1 · 2024-09-01T01:01:06+0000

Answer:

depreciation rate:

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

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

Explanation: