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Math Help - depriciation

  1. #1
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    depriciation

    Hi I need help please

    Suppose you bought a car in mid 2006 fir $10,000. If its value in current dollar depreciates steadily at 12% per year what will its value in current dollars be in mid 2009?



    Thanks
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  2. #2
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    Quote Originally Posted by crazykitty View Post
    Hi I need help please

    Suppose you bought a car in mid 2006 fir $10,000. If its value in current dollar depreciates steadily at 12% per year what will its value in current dollars be in mid 2009?



    Thanks

    After one year its value is (100-12)% of what it was at the start of the year

    (100-12)%=88%=88/100=0.88

    So you can find 88% of $10,000 by doing 0.88x10,000

    and 88% of that is 0.88 x your answer

    and 88% of that is 0.88 x your answer.

    To do it in one quick easy calculation work out 0.88^3 x 10000
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  3. #3
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    Depreciation

    Thankyou!!!!
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