SOLUTION: A tractor that cost $28,000 depreciates in value by 15% after each year. Find the expected value of the tractor after 7 years.

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: A tractor that cost $28,000 depreciates in value by 15% after each year. Find the expected value of the tractor after 7 years.      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 364422: A tractor that cost $28,000 depreciates in value by 15% after each year. Find
the expected value of the tractor after 7 years.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
V%28n%29=28000%281-15%2F100%29%5En
V%28n%29=28000%280.85%29%5En
V%287%29=28000%280.85%29%5E7
V%287%29=28000%280.320577%29
V%287%29=8976
The tractor is worth $8976.