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Calculate the book value of a new maxi taxi costing $44000 after 5 years if it depreciates each year by 13% a. $22,930.52 b. $21,930.52 c. $23,930.52

Answer :

samuelonum1

Answer:

A=$21930.52

Step-by-step explanation:

Given data

Principal =44000

Time =5years

Rate of depreciation =13%

The expression for the depreciation is

A=P(1-r)^t

Substitute

A=44000(1-0.13)^5

A=44000(0.87)^5

A=44000*0.4984209207

A=21930.52

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