A car depreciates by 40% in the first year, 30% in the second year and 20%...
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A car depreciates by 40% in the first year, 30% in the second year and 20% thereafter. I buy a car for $14 700 when it is 2 years old. (a) How much did it cost when new? (b) After how many years will it be worth less than 25% of the amount that I paid for it? A car depreciates by 40% in the first year, 30% in the second year and 20% thereafter. I buy a car for $14 700 when it is 2 years old. (a) How much did it cost when new? (b) After how many years will it be worth less than 25% of the amount that I paid for it?
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given Depreciation Rete Y H0 for Ist year C for Y2 30 tor znd yearI 2 0 After n... View the full answer
Related Book For
Financial Institutions, Markets and Money
ISBN: 978-1119330363
12th edition
Authors: David S. Kidwell, David W. Blackwell, David A. Whidbee, Richard W. Sias
Posted Date:
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