SOLUTION: You buy a used truck for $22,000 . It depreciates at the rate of 10% per year. What is the value of the truck after 4 years? I got 14,434.20.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: You buy a used truck for $22,000 . It depreciates at the rate of 10% per year. What is the value of the truck after 4 years? I got 14,434.20.      Log On


   

Question 425964: You buy a used truck for $22,000 . It depreciates at the rate of 10% per year. What is the value of the truck after 4 years?
I got 14,434.20.
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
It's worth 90% each successive year.
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FV+=+22000%2A0.9%5E4+=+14434.20
--> $14,434.20