A motorcycle cost $7,250. If it depreciates by 12% per year, how much will it be worth after one year?
Question
A motorcycle cost $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 find out how much it depreciates by and then subtract that 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 Now, subtract the depreciation amount from the original cost to find out how much the motorcycle is worth after one year: 870 = $6,380
So, the motorcycle will be worth $6,380 after one year.
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