SOLUTION: the value of an airplane is depreciating at a rate of 7% per year. in 2004, the plane was worth $51.5 million. what is the value of the plane in 2013?
Algebra.Com
Question 1159120: the value of an airplane is depreciating at a rate of 7% per year. in 2004, the plane was worth $51.5 million. what is the value of the plane in 2013?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
A=Ao(1-r)^t, t=9 years Ao=51.5M
A=51.5(0.93^9)
=$26.80 million
RELATED QUESTIONS
The value of a boat is depreciating at a rate of 7% per hour. In 2004, the boat was worth (answered by Cromlix)
The value of a car is $18,000 and is depreciating at a rate of 12% per year. Find how (answered by checkley79)
A computer that was purchased for $1,200 is now worth $450. If it is depreciating at a... (answered by Alan3354)
Kevin Jones, Texas Tiger’s Quarterback, agreed to an eight-year, $50 million contract... (answered by Theo)
Assume the number of U.S. dial-up Internet households stood at 42.5 million at the... (answered by CPhill)
A new car worth $ 24,000 is depreciating in value by $ 3000 per year. Write a formular... (answered by jojo14344)
Q1. You deposit $3,000 in a savings account that earn 9% simple interest per year. How... (answered by ikleyn)
Q1. You deposit $3,000 in a savings account that earn 9% simple interest per year. How... (answered by ikleyn)
The value of a gold coin picturing the head of the Roman Emperor Domitian is increasing... (answered by Alan3354)