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Calculate the residual value of a 15000 car after it has been leased for two years if it depreciates 10 percent the first year and 20 percent the second year?
Wiki User
∙ 13y ago
1st year:
15,000 - 0.1 x 15,000
= 15,000 - 1,500
= 13,500
2nd year:
13,500 - 0.2 x 13,500
= 13,500 - 2,700
= 10,800
Thus, the residue value of the car after it has been leased for two years is 10,800.
Wiki User
∙ 13y ago
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