Depreciation A company buys a machine for $224,000 that depreciates at a rate of 15% per year. Find a formula for the value of the machine after n years. V, = P:|1 n 100 What is its value after 5 years? (Round your answer to two decimal places.) $ 99389.99

Depreciation A company buys a machine for $224,000 that depreciates at a rate of 15% per year. Find a formula for the value of the machine after n years. V, = P:|1 n 100 What is its value after 5 years? (Round your answer to two decimal places.) $ 99389.99

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter8: Sequences And Series

Section8.3: Geometric Sequences

Problem 87E

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Depreciation A company buys a machine for $224,000 that depreciates at a rate of 15% per year. Find a formula for the value of the machine after n years.
V, = P:|1
n
100
What is its value after 5 years? (Round your answer to two decimal places.)
$ 99389.99

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