SOLUTION: a bicycle purchased for $200 depreciates to $181 after one year. Depreciation is linear, estimate value after 7 years.
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Question 1020195: a bicycle purchased for $200 depreciates to $181 after one year. Depreciation is linear, estimate value after 7 years.
Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
Hi there,
$200 - $181 = $19
$19/$200 x 100 = 9.5% depreciation
100% - 9.5% = 90.5%
90.5% = 0.905
$200 x 0.905^7
= $99.44.
This is what the bicycle
will be worth after 7 years.
Hope this helps :-)
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