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Depreciation
Oppelt
May 30, 2007, 08:14 PM
Joe bought a car for $12,000. In 5 years it will be worth only $7,000. What is the rate of depreciation for the car?
Capuchin
May 30, 2007, 11:32 PM
12000x^5 = 7000
Find x. I think you're looking for 1-x for your answer. This is percent depreciation per year.