Question

A vehicle purchased for $32500 depreciates at a constant rate of 5% per year. Determine the approximate
value of the vehicle 15 years after purchase.

Answer 1

Answer:

$8125

Step-by-step explanation:

Depreciation value=(32500×.05×15)

Depreciation value=$24375

Approximate value after 15years=$32500-$24375

=$8125