A motorcycle costs $7,250. If it depreciates by 12% per year, how much will it be worth after one year?
Question
A motorcycle costs $7,250. If it depreciates by 12% per year, how much will it be worth after one year?
Solution
To calculate the value of the motorcycle after one year, you need to determine how much it depreciates by and then subtract that amount from the original cost.
Step 1: Calculate the depreciation amount The motorcycle depreciates by 12% per year. So, you multiply the original cost of the motorcycle by the depreciation rate: 870
Step 2: Subtract the depreciation amount from the original cost Then, you subtract the depreciation amount from the original cost to find the value of the motorcycle after one year: 870 = $6,380
So, the motorcycle will be worth $6,380 after one year.
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