Eileen purchased a dishwasher for $750. It depreciates about 0.9% each year. What is the value of the dishwasher after seven yea
rs? (2 points) a $798.55 b $743.25 c $746.07 d $704.01
1 answer:
Depreciation formula: starting value x (1 - percent of decrease)^years
Change 0.9% to a fraction by dividing by 100:
0.9/100 = 0.009
750 x (1-0.009)^7
750 x 0.991^7 = $704.01
The answer is $704.01
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