A printer has an original value of $7000. if it depreciates at the rate of 8 percent of the original cost per year, what is its

Question

11 months ago

7

value at the end of 9 years?

1 answer:

Mrrafil [7] · Answer 1 · 2023-12-05T10:13:20+03:00

Based on the given parameters, the value of the printer after 9 years is $3304

<h3>How to determine the value in nine years?</h3>

The given parameters about the exponential function are

Initial value, a = $7000

Depreciation rate, r = 8%

Time, t = 9

Exponential functions are different from linear functions, and they are calculated using the following exponential function

A = a *(1 - r)^t

To calculate the value in nine years, we have:

Substitute the known values in the above equation

A = 7000 * (1 - 8%)^9

Express 8% as decimal

A = 7000 * (1 - 0.08)^9

Evaluate the difference

A = 7000 * (0.92)^9

Evaluate the exponent

A = 7000 * 0.472

Evaluate the product

A = 3304

Hence, the value of the printer after 9 years is $3304

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