A car which was bought for GH¢82,000 when new was valued at GH¢ 69,700 at the end of the first year. It then depreciated each year by 10.5% of its value at the beginning of that year.
Calculate
(a) the rate of depreciation at the end of the first year.
(b) the value of the car at the end of the fourth year.

Answer rating: 100% (QA)

To calculate the rate of depreciation at the end of the first year we can use the formula Rate of ... View the full answer