Math Question: A computer valued at $5000 depreciates at a rate of 12% per year. Find the value of the computer after three years. Round to the nearest cent.
Asked By Younus On 10/14/2020 17:51
Math Answers
5000(1-.12)^3 = $3407.36
Answered On 10/16/2020 06:11
Answered On 10/16/2020 06:11
For this problem, we will use the compounding interest formula, with the initial value $5000. Using 5000(.88)^t, where t is in years, we are taking 88% of the starting value for each year. For the computer's value after 3 years, 5000(.88)^3 = 3407.36 to the nearest cent.
Answered On 10/28/2020 21:15
Answered On 10/28/2020 21:15
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