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A car's value depreciates by 15% each year. If its current value is $8500, what
A car's value depreciates by 15% each year. If its current value is $8500, what will be its value after one year?
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Practice Questions
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Q1
A car's value depreciates by 15% each year. If its current value is $8500, what will be its value after one year?
$7225
$7500
$8000
$8500
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Value after one year = 8500 - (15% of 8500) = 8500 - 1275 = 7225.
Questions & Step-by-step Solutions
1 item
Q
Q: A car's value depreciates by 15% each year. If its current value is $8500, what will be its value after one year?
Solution:
Value after one year = 8500 - (15% of 8500) = 8500 - 1275 = 7225.
Steps: 6
Show Steps
Step 1: Identify the current value of the car, which is $8500.
Step 2: Calculate 15% of the current value. To do this, multiply $8500 by 0.15.
Step 3: Perform the multiplication: 8500 * 0.15 = 1275.
Step 4: Subtract the amount calculated in Step 3 from the current value. So, $8500 - $1275.
Step 5: Perform the subtraction: 8500 - 1275 = 7225.
Step 6: The value of the car after one year is $7225.
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