Ethan bought new car worth $60 000. After 5 years, the car was worth $35 429.40. Calculate the depreciation rate of Ethans car.

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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Ethan bought new car worth $60 000. After 5 years, the car was worth $35 429.40. Calculate the depreciation rate of Ethans car.

 

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