Respuesta :
When the car is acquired for $22600 and depreciates at an 11.5% rate, it will take 6.7 years for its worth to reach $5200.
What is percent?
In essence, percentages are fractions with a 100 as the denominator. We place the percent symbol (%) next to the number to indicate that the number is a percentage. For instance, you would have received a 75% grade if you answered 75 out of 100 questions correctly on a test (75/100).
Here,
Cost of car=$22600
Rate of depreciation=11.5%
After n years, value of car=$5200
Annual depreciation expense=22600*11.5%
=$2599
Value of the Car = Purchase cost - (Annual depreciation expenses * n)
5200=22600-(2599*n)
2599n=22600-5200
2599n=17400
n=6.695
n=6.7 years
The number of years until the value of the car is 5200 dollars at depreciation rate of 11.5% when purchased at 22600 dollars will be 6.7 years.
To know more about percent,
https://brainly.com/question/19558629
#SPJ4
