SOLUTION: A silver coin was purchased for $430 in 1985.The market value for silver declined to the point that in 2007 the coin was worth $200. What was the average annual rate of depreciatio

Question 135163: A silver coin was purchased for $430 in 1985.The market value for silver declined to the point that in 2007 the coin was worth $200. What was the average annual rate of depreciation of the silver coin?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A silver coin was purchased for $430 in 1985.The market value for silver declined to the point that in 2007 the coin was worth $200. What was the average annual rate of depreciation of the silver coin?
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(200-430)/(2007-1985) = -230/22 = -$10.4545 per year
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Cheers,
Stan H.
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