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Hello!
Answer:
$295.295
Explanation:
Of the statement, we have that the price of the machine decreased 10% every year exponentially, so in the first year it real value drops to 90% of the costs. For 5 years, It can be expressed and simplified by the following equation:
We can't use that the percent drop as a percent itself, so we are going to divide 90% by 100%, and it will give us an entire number.
By substituting we have:
Value: $295.245
Have a nice day!
Answer:
$295.295
Explanation:
Of the statement, we have that the price of the machine decreased 10% every year exponentially, so in the first year it real value drops to 90% of the costs. For 5 years, It can be expressed and simplified by the following equation:
We can't use that the percent drop as a percent itself, so we are going to divide 90% by 100%, and it will give us an entire number.
By substituting we have:
Value: $295.245
Have a nice day!