A car was valued at $30,000 in the year 1995. The value depreciated to $12,000 by the year 2005. A) What was the annual rate of change between 1995 and 2005? Round the rate of decrease to 4 decimal places. r = B) What is the correct answer to part A written in percentage form? r = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2008 ? value = $ Round to the nearest 50 dollars.

A car was valued at $30,000 in the year 1995. The value depreciated to $12,000 by the year 2005. A) What was the annual rate of change between 1995 and 2005? Round the rate of decrease to 4 decimal places. r = B) What is the correct answer to part A written in percentage form? r = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2008 ? value = $ Round to the nearest 50 dollars.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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