SOLUTION: Nintendo brand’s value decreased by 11.2% from 2002 to 2003. Assume this continues. If the company had a value of $9,220,000 in 2002, write an equation for the value of Nintendo fo

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Nintendo brand’s value decreased by 11.2% from 2002 to 2003. Assume this continues. If the company had a value of $9,220,000 in 2002, write an equation for the value of Nintendo fo      Log On

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Question 942213: Nintendo brand’s value decreased by 11.2% from 2002 to 2003. Assume this continues. If the company had a value of $9,220,000 in 2002, write an equation for the value of Nintendo for t years after 2002.
Found 2 solutions by rfer, TimothyLamb:
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=9220000(1.112)^-t

Answer by TimothyLamb(4379) About Me  (Show Source):
You can put this solution on YOUR website!
depreciation formula:
v = c(1-r)^t
where:
v = final value
c = initial value
r = percent (as decimal) depreciation per time period, typically per year
t = depreciation time periods, typically years
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v = 9220000*(1-0.112)^t
v = 9220000*(0.888)^t
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