Question 120393
Use the depreciation formula, which is:
{{{V=P(1-R)^n}}}
Where:
V= future value, P= present value, R= depreciation rate, and n= # of years.
In your case, you get:
{{{V=9000(1-.12)^5}}}
{{{V=9000(.88)^5}}}
{{{highlight(V=4749.59)}}}
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Good Luck,
tutor_paul@yahoo.com