The price of the car after 5 years will be ₱1,500,000
Price of car = ₱2 000 000
Depreciation percentage = 5%
Depreciation = 5% × ₱2 000 000 = 0.05 × ₱2 000 000 = ₱100 000
The equation to solve the question will be:
= 2000000 - 100000x
where, x = number of years
= 2,000,000 - 100000(5)
= 2,000,000 - 500,000
= ₱1 500 000
The price of the car after 5 years will be ₱1,500,000
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