SOLUTION: Hi would you please help me with my homework. A machine depreciates by 1/4 of its value each year. If it costs $630,000 new, what is its value after 5 years? (Round to nearest

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Question 930745: Hi would you please help me with my homework.
A machine depreciates by 1/4 of its value each year. If it costs $630,000 new, what is its value after 5 years? (Round to nearest dollar)
My professor said the answer is $149,502
Will you please show me the steps on how to solve the problem. Thank you.
Answer by josgarithmetic(39618) About Me  (Show Source):
You can put this solution on YOUR website!
The simplest possible formulation is v=630000%2A%281-1%2F4%29%5Et using v for value and t for number of years passed. Same as v=630000%283%2F4%29%5Et.