A car was valued at $39,000 in the year 1993. The value depreciated to $12,000 by the year 2002. A) What was the annual rate of change between 1993 and 2002? T- Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? T- 96. C) Assume that the car value continues to drop by the same percentage. What will the value be in the 2007 ? value-S Round to the nearest 50 dollars.

A car was valued at $39,000 in the year 1993. The value depreciated to $12,000 by the year 2002. A) What was the annual rate of change between 1993 and 2002? T- Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? T- 96. C) Assume that the car value continues to drop by the same percentage. What will the value be in the 2007 ? value-S 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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Question

A car was valued at $39,000 in the year 1993. The value depreciated to $12,000 by the year 2002.
A) What was the annual rate of change between 1993 and 2002?
TH
Round the rate of decrease to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
17
96.
C) Assume that the car value continues to drop by the same percentage. What will the value be in the year
2007?
value- S
4
Round to the nearest 50 dollars.

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