Depreciation 22% in 1st yr: value of $16K car after 1 yr.

[timone62]

A new car depreciates an average of 22% in its first year of use. If the car was worth $16,000 when it was new, what will the car be worth after 1 year?

 

[Loren]

Re: Depreciation

The value after one year will be its original value minus its original value multiplied by the rate of annual depreciation.