SOLUTION: The value of a computer depreciates at the rate of 18% per year. If the computer is now worth $1600, find its value 20 months ago. Give your answer to the nearest dollar. What am I

Question 147849: The value of a computer depreciates at the rate of 18% per year. If the computer is now worth $1600, find its value 20 months ago. Give your answer to the nearest dollar. What am I supposed to do?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
18% per year is 1.5% per month, which means that for each month the computer is worth .985 as much as the month before.
After 20 months, this is
= $1182.62
The answer might vary slightly if the depreciation is calculated daily, weekly or yearly, but the period wasn't specified.
RELATED QUESTIONS
3. You just purchased a new computer for $1,600.00. Unfortunately your computer... (answered by stanbon)

3. You just purchased a new computer for $1,600.00. Unfortunately your computer... (answered by stanbon)

what is the value of a $1800 computer after 2 years if it depreciates 29% per... (answered by josgarithmetic)

A computer that was purchased for $6000 depreciates at a rate of 13.4% per year. An... (answered by Theo)

A computer that was purchased for $6000 depreciates at a rate of 13.4% per year. An... (answered by Edwin McCravy)

A computer that was purchased for $1,200 is now worth $450. If it is depreciating at a... (answered by Alan3354)

Student Computer Services bought a computer for $3616. The computer depreciates at a... (answered by josmiceli)

On federal income tax returns, self-employed people can depreciate the value of business... (answered by stanbon)

A car depreciates in value at the rate of 5% every year. If a car costs 650,000 pesos... (answered by rfer)