SOLUTION: a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years.
Algebra.Com
Question 309270: a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years.
-----------------
It retains 86% of its value each year.
-----------------
Value = 95000*(0.86)^10 = $21,023.65
=========================================
Cheers,
Stan H.
=========================================
RELATED QUESTIONS
a new car depreciates by 20% in its first year. Each succeeding year it depreciates by... (answered by mathstutor458)
A piece of manufacturing equipment valued at $125,000 depreciates at a steady rate of 10% (answered by rfer)
A piece of equipment originally costs $120000. Its value decreases at a rate of 10% per... (answered by Alan3354)
please, I am stuck on this question. I need your help:
The linear depreciation method... (answered by solver91311)
The value of a new $3500 sailboat decreases 10% per year. Find its value after 1 year. (answered by mangopeeler07,jojo14344)
Hi, hope you can help me withs this problem
A new car depreciates by 20% in its first... (answered by stanbon)
A musical instrument depreciates by 20% of its value each year. What is the value, after (answered by Alan3354)
If a new car costs $18,000.00 and depreciates at a rate of 12% per year, what will be the (answered by stanbon)
A new 24000 dollars car depreciates in value 5000 dollars per year. Construct a linear... (answered by oscargut)