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What is a value after 7 years of a car that originally cost $25000 if it depreciates at a rate of 8% per year

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  1. 5 June, 10:34
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    original cost times 8%

    $25,000 x. 08 = $2,000

    then take $25,000 - $2,000 = $23,000 (first year depreciation)

    continue with 2nd year

    $23,000 x. 08 = $1840

    23000-1840 = 21160 (2nd year depreciation)

    21160 x. 08 = 1693

    21160 - 1693 = 19467 (3rd year depreciation)

    19467 x. 08 = 1557

    19467 - 1557 = 17910 (4th year depreciation)

    17910 x. 08 = 1433

    17910 - 1433 = 16477 (5th year depreciation)

    16477 x. 08 = 1318

    16477 - 1388 = 15159 (6th year depreciation)

    15159 x. 08 = 1213

    15159 - 1213 = 13946 (7th year depreciation)

    Step-by-step explanation:

    Asset Value x Annual Percentage = Depreciation Amount

    Asset Value - Depreciation Value = Balance
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