Question

Dans mother bought a car for 15,000 five years ago. She wants to sell it to Dan based on 12% annual rate of depreciation. At this rate, how much will Dan pay for the car?

Answer 1

Explanation:

= P [ 1-R/100 ] T

= 15000 [ 1-12/100] ⁵

= 15000 [100-12/100]⁵

= 15000 [0.88]⁵

= 15000 × 0.52773

= 7915.95..

i hope it's correct....