Depreciation A company buys a machine for $475,000that depreciates at a rate of 30% per year. Find a formula forthe value of the machine after n years. What is its value after5 years?

The depreciation formula for the value of machine after n year is A=P(1-r100)n In this question…

Answered: Depreciation A company buys a machine…

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.3: Geometric Sequences And Series

Problem 83E: Depreciation A tool and die company buys a machine for $175,000 and it depreciates at a rate of 30...

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Depreciation A company buys a machine for $475,000 that depreciates at a rate of 30% per year. Find a formula for the value of the machine after n years. What is its value after 5 years?