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10 February, 20:17

The value of a $60,000 tractor decreases approximately 20% each year. Find the approximate value of the tractor in 5 years.

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  1. 10 February, 21:30
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    The tractor will be worth 19660.8$ over the 5 years
  2. 10 February, 22:59
    0
    Year 1: 60000*80% (to find value after 20% decrease. 100-20=80%)

    60000*0.8 = $48000

    Yr 2: 48000*0.8 = $38400

    Yr3: 38400*0.8 = $30720

    Yr 4: 30720*0.8 = $24576

    Yr 5: 24576*0.8 = $19660.80 (value of tractor after 5 yrs of deprecation)
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