A cell phone costs $750 and loses 28% of its value each year. What is the value of the phone after 2 years?
2 answers:
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Answer:
For 4 years the money was in the account .
Step-by-step explanation:
Formula
As given
Bonita deposited 1300 into a bank account that earned 5.75% simple interest each year.
She earned $299 in interest before closing the account.
Principle = $1300
Rate = 5.75%
Simple interest = $299
Putting all the values in the formula
Time = 4 years
Therefore for 4 years the money was in the account .