The Mercedes S-Class luxury vehicle depreciates by 32.4% after just one year. The starting price in 2015 was $70,000. What is the total value for this vehicle after one year?
If the value is reduced by 32.4%, then 100% - 32.4% = 67.6% of the value remains. As a decimal, 67.6% = 0.676, so the remaining value after 1 year is ...
