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A car was bought at the end of the year 2002 for $22000 and is worth $9000 at the end of the year 2009. Assuming the depreciation is linear - what is the approximate annual depreciation rate?

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A car was bought at the end of the year 2002 for $22000 and is worth $9000 at the end of the year 2009. Assuming the depreciation is linear - what is the approximate annual depreciation rate?






 
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