SOLUTION: The value of a new car depreciated by 5% the first year. If it was worth $18,598.15 at the end of the year, what was its value when it was new? Can you help?
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Question 278340: The value of a new car depreciated by 5% the first year. If it was worth $18,598.15 at the end of the year, what was its value when it was new? Can you help? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! The value of a new car depreciated by 5% the first year. If it was worth $18,598.15 at the end of the year, what was its value when it was new? Can you help?
If the car was valued at $100 the value of the car after 1 year will be $95
The value of the car after 1 year was 18598.15
The price of the new car will be
100/95 * 18598.15
=$19577
