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8 November, 18:14

24500 dollars and depreciates 14.75% per year what will the value be to the nearest cent after 14 years

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  1. 8 November, 18:41
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    Depreciation is the decrease in value of a given asset within a given period of time.

    Using the formula, A=P (1-r/100) ^n, where A is the new value after depreciation, P is the original value, r is the depreciation rate and n is the time taken.

    Therefore,

    A = 24500 (0.8525) ^14

    = 2623.54 dollars

    ≈ 2623.50 dollars

    Thus the value after 14 years will be 2623.50 dollars
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