The percentage of the car's original value will be 33%
We have given that the car was worth $24,000, being this the original value, after three years the car will be worth $16,000.
Therefore to find the percentage of the car’s original value will Ralph need to pay as part of his lease, We have to find the difference between the original value and the new value.
So the difference between the original value and new value is,
24,000-16,000= $8000.
A percentage is a number or ratio expressed as a fraction of 100.
And the percentage can be calculated dividing the difference by the original value of the car.
[tex]\frac{8000}{24000}\times 100=33.3\%[/tex]
Therefore the percentage of the car's original value will be 33%
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