If you bought a car five years ago for $15,000 and today you can sell for $7000 what was its rate of depreciation

Step-by-step explanation:

The price of car purchased 5 years ago = 15000

The price of car sold = 7000

By compound depreciation,

 ... (1)

where Pn = 7000

P = 15000

R = rate of interest to be calculated

T = 5 ( number of years)

substituting the values in equation (1), we get

0.858 is rounded off as 0.86

R/100 = 0.14

By simplifying the above equation, we get

Rate of depreciation = 14%

what is the original number? you forgot to add it.

it is true

step-by-step explanation:

all the combinations add up i used   calculator