SOLUTION: You buy a used truck for $10,000. It depreciates at the rate of 18% each year for 5 years. Find the value of the truck after 5 years.

Algebra ->  Exponents -> SOLUTION: You buy a used truck for $10,000. It depreciates at the rate of 18% each year for 5 years. Find the value of the truck after 5 years.      Log On


   

Question 389261: You buy a used truck for $10,000. It depreciates at the rate of 18%
each year for 5 years. Find the value of the truck after 5 years.
Found 2 solutions by MathLover1, kikk13:
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

your formula is
V+=+10000+%28+the+-rate-depreciation%29+%5Et ..........where................ V = value after t years.
V=10000%28%28100-18%29%2F100%29%5E5.
This is V=10000%2882%2F100%29%5E5...
V=10000%280.82%29%5E5............%280.82%29%5E5=0.370740+after you plug it into a calculator
and you will have V=+10000%2A0.370740...
so, V+=+3707.40 after multiplying out!

Answer by kikk13(3) About Me  (Show Source):