mirandavenpportt mirandavenpportt

29-05-2016
Mathematics

Answered

The local parts shop buys a machine that costs $500,000. Its value depreciates exponentially each year by 10%. What is the machine’s value after 5 years? Round your answer to the nearest integer

Verified Answer :

alex3245 alex3245

29-05-2016

When compounding you must use:
Original price x percentage^years
So..
500,000 x 0.9^5
= $295245 is the value after 5 years.

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