Question

a man bought a motor at 400,000 Kenyan shillings in January 1999 it depreciated at a rate of 16% per annum if he value it six months determines its value in January 2003​

Answer 1

The value of the car is January 2003 is  $199,148.54.

What is the value of the car?

Depreciation is the rate of decline in the value of an asset with the passage of time.

The exponential equation that can be used to determine the value of the car is:

Value of the car = purchase value(1 - rate of decline)^time

400,000 x (1 - 0.16)^(2003 - 1999)

400,000 x (0.84^4) = $199,148.54

To learn more about depreciation, please check: https://brainly.com/question/15085226

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