Respuesta :
Answer : The rate of depreciation is, $16000
Step-by-step explanation :
Formula used to calculate the rate of depreciation is:
[tex]\text{Depreciation rate}=\frac{\text{Purchase price of asset }+\text{ Salvage value}}{\text{Estimate life of asset}}[/tex]
Given:
Purchase price of asset = $15000
Salvage value = $7000
Estimate life asset = 3 years
Now put all the given values in the above formula, we get:
[tex]\text{Depreciation rate}=\frac{15000+7000}{5}[/tex]
Deprecation rate = $16000
Therefore, the rate of depreciation is, $16000
The rate of depreciation when bought your car 5 years ago for $15,000 and today you can sell for $7000 is $1,600.
Calculation of the rate of depreciation:
Since the car was purchased 5 years ago for $15,000 and today you can sell for $7000.
So here the rate should be
[tex]= (15,000 - 7,000) \div 5[/tex]
= $1,600
hence, The rate of depreciation when bought your car 5 years ago for $15,000 and today you can sell for $7000 is $1,600.
Learn more about rate here: https://brainly.com/question/20875379
