Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

A vehicle purchased for $20,700 depreciates at a constant rate of 4%. Determine the approximate value of the vehicle 15 years after purchase.

Sagot :

The approximate value of the vehicle 15 years after purchase is $11,221.19.

What is the approximate value of the vehicle 15 years after purchase?

Depreciation is when the value of an asset declines with the passage of time as a result of wear and tear.

Value of the car = purchase price x (1 - rate of decline)^number of years

20,700 x (1 - 0.04)^15 = $11,221.19

To learn more about depreciation, please check: https://brainly.com/question/25552427

#SPJ1

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.