SOLUTION: A car is depreciated by 15% p.a. for 4 years and is then valued at $8,150. What was the original value of the car?
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Question 468515: A car is depreciated by 15% p.a. for 4 years and is then valued at $8,150. What was the original value of the car?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
If a car is depreciated by 15%, then it retains 85% of its original value. The value of a car after 4 years is z(.85)(.85)(.85)(.85)=.52200625z.
.52200625z=8150
z=8150/.52200625=$15612.84 is the original value of the car..
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