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3 years ago

12

he original price of a tractor was $45,000. The price of the tractor decreases at a steady rate of 8.3% per year. What is the va

lue of the tractor in 5 years? $_______

1 answer:

Debora [2.8K]3 years ago

5 0

Answer:

<em>$29178.25</em>

Step-by-step explanation:

<em>x = p(1 - r)ⁿ</em>

<em>p = original price</em>

<em>r = 8.3% = 0.083</em>

<em>n = 5 years</em>

<em>x = $45000(1 - 0.083)⁵</em>

<em>= $45000ₓ0.917⁵</em>

<em>= $45000ₓ0.64840548256</em>

<em>= </em><em>$29178.25</em>

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