Alec sells life insurance part-time, door-to-door. He is paid a monthly commission. He receives 12% commission of his
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Answer:
The value of the machine after two years is approximately $466.6
Step-by-step explanation:
The details of the valuation of the machine are;
The function giving the machine value, 'V', is V =
Where;
C = The original cost of the machine
r = The depreciation rate
t = The time the machine has been in service
When C = $576, r = 0.1, t = 2 years, we have;
Therefore, the value of the machine that costs $576 having a depreciation of 0.1 after 2 years is, V = $466.58
By rounding to the nearest cent, we have, V = $466.6.