What is a value after 7 years of a car that originally cost $25000 if it depreciates at a rate of 8% per year

original cost times 8%

$25,000 x. 08 = $2,000

then take $25,000 - $2,000 = $23,000 (first year depreciation)

continue with 2nd year

$23,000 x. 08 = $1840

23000-1840 = 21160 (2nd year depreciation)

21160 x. 08 = 1693

21160 - 1693 = 19467 (3rd year depreciation)

19467 x. 08 = 1557

19467 - 1557 = 17910 (4th year depreciation)

17910 x. 08 = 1433

17910 - 1433 = 16477 (5th year depreciation)

16477 x. 08 = 1318

16477 - 1388 = 15159 (6th year depreciation)

15159 x. 08 = 1213

15159 - 1213 = 13946 (7th year depreciation)

Step-by-step explanation:

Asset Value x Annual Percentage = Depreciation Amount

Asset Value - Depreciation Value = Balance