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20,000 truck depreciates at a rate of 15% per year

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20,000 truck depreciates at a rate of 15% per year

After 3 years 8 years 10 years

exponential growth and decay

asked Mar 12, 2012 in Word Problem Answers by anonymous

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1 Answer

Depreciation is 100-15=85% per year, or 0.85. After n years the depreciation factor is 0.85^n, so after 3 years the value of the truck is 20000*0.85^3=$12,282.50; after 8 years, $5,449.81; after 10 years, $3,937.49.

answered Apr 27, 2015 by Rod Top Rated User (1.2m points)

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