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An equipment cost $100,000 with a salvage value of $5,000 at the end of 10 years. Using a sinking fund method, find the approximate book value after 3 years. Assume i = 4% per annum.

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter9: Pricing Construction Equipment

Section: Chapter Questions

Problem 6RQ

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Question

An equipment cost $100,000 with a salvage value of $5,000 at the end of 10 years. Using a sinking fund method, find the approximate book value after 3 years. Assume i = 4% per annum.

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