Concept explainers
Leonardo should sell the car to Manuel.
Answer to Problem 25PPS
No, Leonardo should not sell the car to Manuel.
Explanation of Solution
Given:
Leonardo bought the car for $18,995and the value of the car depreciates at a rate of 18% per annum
Concept used:
The formula of increases rate over a time period is given by,
Calculation:
The car amount after 6 years is calculated as,
As the amount after 6 years of the car will be 5774.60 and Manuel is paying $4500 so if he sold the car at that rate then he will have a loss of $1274
Conclusion:
Hence, he should not sold it to Manuel.
Chapter 7 Solutions
Algebra 1, Homework Practice Workbook (MERRILL ALGEBRA 1)
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