SOLUTION: the value of a couch is decreasing at a rate of 6.2% per year. In 2007, the couch was worth $1232 find the value of the couch in 2014.

Question 1159124: the value of a couch is decreasing at a rate of 6.2% per year. In 2007, the couch was worth $1232 find the value of the couch in 2014.
Answer by Amily_2190(27) (Show Source): You can put this solution on YOUR website!
The value of a couch is decreasing at a rate of 6.2% each year, so only 93.8% of the value remains each year..... (100%-6.2%=93.8%)
93.8%=.938

7 years have passed from 2007 to 2014.......(2014-2007=7)

The value is approximately $787.10 in 2014.
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