document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1005213>Question 1005213</A>: <I><SPAN STYLE=\"word-break: break-all;\"> After 4 years a tractor purchased for E58 500 has a resale value of E35 080. Find its annual rate of<BR>\n" );
document.write( "depreciation. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #622119 by </B><A HREF=/tutors/aboutme.mpl?userid=fractalier><B>fractalier(6550)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fractalier><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=fractalier><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=622119\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We use r for the rate of depreciation, such that (I am assuming that the depreciation is compounded...if not, 15% per year is the answer)<BR>\n" );
document.write( "35080 = 58500*(1-r)^4<BR>\n" );
document.write( "Solve for r...<BR>\n" );
document.write( "(1-r)^4 = .6<BR>\n" );
document.write( "1-r = .6^(.25)<BR>\n" );
document.write( "1-r = .88<BR>\n" );
document.write( "r = .12 = 12% </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );