SOLUTION: A piece of equipment originally costs $120000. Its value decreases at a rate of 10% per year. Estimate its value after 6 years.
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Question 770159: A piece of equipment originally costs $120000. Its value decreases at a rate of 10% per year. Estimate its value after 6 years.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
A piece of equipment originally costs $120000. Its value decreases at a rate of 10% per year. Estimate its value after 6 years.
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Each year it's worth 90% of the previous year, = 0.9 times as much.
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= $63772.92
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