SOLUTION: A new motor home cost $89, 000. It is expected to depreciate 9% each year. Find the value of the motor home in 4 years. I have $61, 031 but I don't if it is right.

Question 84258: A new motor home cost $89, 000. It is expected to depreciate 9% each year. Find the value of the motor home in 4 years. I have $61, 031 but I don't if it is right.
Answer by tutor_paul(519) (Show Source): You can put this solution on YOUR website!
You just about got it right, but if you are rounding to the nearest dollar, it would really be $61032. But that is kinda nit-picky!
The equation is:

Good Luck,
tutor_paul@yahoo.com
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