SOLUTION: at what rate of depreciation per month would the value of an article be halved in 10 months

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Question 860362: at what rate of depreciation per month would the value of an article be halved in 10 months
Answer by Alan3354(69443) About Me  (Show Source):
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at what rate of depreciation per month would the value of an article be halved in 10 months
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FV = PV*r^t (r = remaining value, t in months)
FV = PV/2
r^10 = 0.5
r+=+root%2810%2C0.5%29
r =~ 0.933033
Depreciation = 1 - r
= 0.066967
= 6.6967%/month